How likely is a Bitcoin ETF?

In important crypto markets such as Japan and South Korea, investors expect the possibility of a Bitcoin Exchange Traded Fund (ETF) by the end of August 2018 and expect a massive recovery of the Bitcoin price.

The SEC’s Bitcoin revolution

The US Securities and Exchange Commission (SEC) has so far rejected a Bitcoin revolution scam, one from SolidX and the other from the Winklevoss twins operating the large US crypto exchange Gemini.

In March 2017, the US-SEC claimed that the Winklevoss ETF proposal was rejected because Bitcoin was not properly regulated as a digital asset and no adequate regulatory framework was in place. The agency also found that there is no insurance around crypto currencies.

Since July 2018, the global crypto currency market has had a rigid regulatory framework for anti-money laundering guidelines and security standards (AML). Overseas markets such as Japan and South Korea are likely to have better regulatory frameworks than the US, with Japan leading the way in establishing an international standard for crypto regulation.

Therefore, the issues raised by the Ethereum code in March are now irrelevant

And with the filing of the Chicago Board Options Exchange (Cboe) with the SEC for a fully insured Ethereum code scam, the lack of insurance in the crypto market is no longer an issue.

But from the SEC’s perspective, as Needham & Co-vice President of Equity Research Spencer Bogart said, the agency has nothing to gain by approving crypto-currency-based ETFs, because if the ETFs prove massively successful in the US market, the SEC will not benefit. However, if the ETFs cause problems that cannot be controlled by the agency, the SEC may be responsible.

In February 2017, Bogart said that the likelihood of an ETF being approved is around 25 percent, as the SEC has always been reluctant to introduce a new asset class.

Goldman Sachs confirms launch of Bitcoin Futures Trading Desk

The investment bank Goldman Sachs has confirmed that it will launch a Bitcoin Trading Desk to meet its clients‘ demand for crypto currencies.

We have already reported that there are rumours regarding Morgan Stanley planning a Bitcoin Trading Desk. Apparently, Wall Street companies are competing to determine who will be the first to release their product to the market. Goldman Sachs CEO Lloyd Blankfein confirmed that the investment bank will begin clearing futures in Bitcoin for „some futures clients“ this year.

Goldman Sachs squints at english Crypto

The launch of the Bitcoin Trading Desk is a significant change in the position of Goldman Sachs CEO, who stated in an interview english with Bloomberg last year that the digital currency is a „vehicle for fraud“.

Rana Yared, a Goldman Sachs executive in charge of overseeing the creation of the new Bitcoin trading desk, said in an interview with The New York Times that the organization has adopted a cautious stance on the crypto currency:


Fortune reports that Goldman Sachs will offer a limited number of Bitcoin profit

Yared confirmed to the New York Times that „Bitcoin is not a scam and does not have the characteristics of a currency“, explaining that the creation of the Bitcoin Trading Deks largely responds to customer demand:


In addition to requests from hedge funds to invest in the new volatile asset class, Yared stated that the bank had received interest from foundations that had received donations in crypto currency and were not sure how to deal with it.

Goldman Sachs Direct Bitcoin Trading

Goldman Sachs has already started clearing trades for customers who buy and sell futures via the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE), but with the introduction of the new trading desk, the bank will use its own capital for futures contracts. The Bitcoin Trading Desk is led by Justin Schmidt, who recently joined Goldman Sachs in the newly created digital asset trading position.

ICONOMI is a Slovenian FinTech start-up

ICONOMI is a Slovenian FinTech start-up offering a blockchain-based platform for asset management. Put simply, ICONOMI is a platform that makes it possible to invest in „crypto funds“. Asset managers can use the ICONOMI platform to create their own funds and investors can invest in these funds.

How was ICONOMI created?

ICONOMI was created by an ICO. The ICO started on August 25, 2016 and ended on September 29, 2016. 85 million of the total of 100 million ICONOMI Token (ICN) were distributed at a cost of $0.11 per token. As a result, just under USD 10 million was collected.

The team behind Bitcoin Trader

Tim M. Zagar (CEO & Co-Founder), Jani Valjavec (Co-Founder), Matej Tomazin (COO) and Miha Vidmar (CTO) form the team behind ICONOMI. The Slovenian team had previously developed Cashila, among Bitcoin Trader other things.

Digital Asset Arrays™

Digital assets are all digital currencies that can be traded on ICONOMI, such as Bitcoin, Ether, Dash, Golem, etc. These digital assets are managed in crypto funds. These funds are called Digital Digital Digital Asset Arrays™ and the respective fund managers are called Digital Asset Array™ Managers or „DAA“ Managers for short.

Bitcoin Code token und more

The ICONOMI platform started in 2016 with an ICO (Initial Coin Offering), resulting in the ICONOMI Token, ICN for short. This token was initially issued with the intention of representing some kind of ownership of the company. Due to regulations of individual countries, however, this could not be implemented, which is why the ICN token has different functions today. On the one hand, ICN tokens will be used for the ICONOMI platform in onlinebetrug in the future but Bitcoin Code  it remains to be seen how this will actually work. On the other hand, ICONOMI uses ICN tokens for buy-backs. This means that ICONOMI buys ICN tokens with a part of their profits and then burns them. This reduces the number of ICN tokens.

Why have your own token?

For all projects that create their own token, one should ask oneself the questions, which use the issued token has. As long as ICN tokens cannot be used for the platform, the own token is not actually necessary. Existing currencies such as Bitcoin and Ether would be sufficient to create funds. Nevertheless, the token is not completely useless. Asset managers can add the ICN token to their assortment. And, of course, buy-backs are a kind of dividend for investors.