investment firm, and if approved, will be listed on the Toronto Stock Exchange under the ticker “BIT.U.”

Owned by the Winklevoss twins, Gemini is well-known in the crypto space for offering one of the largest selections of digital assets in its exchange. Moreover, it also offers custody services, under Gemini Custody, since 2015. As it turns out, Arxnovum has listed Gemini as sub-custodian of all its assets held outside Canada, in its Bitcoin ETF filing. Notably, the crypto custody platform is also approved by the New York State Department of Financial Service (NYDFS).

The ETF was filed on Monday, January 11, 2021, at Canada’s Ontario Securities Commission. The filing will, however, have to receive approval from the Toronto Stock Exchange (TSX), as well as fulfill all its listing requirements. And even if Arxnovum successfully does all that, there is still no guarantee that the Bitcoin ETF will be listed. 

But if successful, the ETF will be traded against the U.S. dollar on the TSX, which would include BTC, BTC Futures, as well as other derivatives. The Bitcoin ETF will also “hold cash, cash equivalents and/or other fixed-income securities”.

Speaking on the announcement, Arxnovum CEO Shaun Cumby disclosed that he has great confidence in the successful listing of the ETF, while also noting that the volatile nature of cryptocurrencies could still, however, result in a negative verdict.

Cumby, prior to serving as Arxnovum’s CEO, worked at 3IQ Corp. It is important to note that 3IQ was the first firm to list the first-ever Bitcoin ETF in Canada. Furthermore, Gemini also provides custody services to 3IQ’s Bitcoin ETF, QBTC.U, as BTC Manager previously reported.

Several crypto firms have tried obtaining approval to list a Bitcoin ETF in the US, such as VanEck, SolidX, Bitwise, Wilshire Phoenix, and many more. In fact, SolidX had sued VanEck over ETF plagiarism. But all bickerings aside, the U.S. SEC has rejected every single ETF application.

This is why US-based crypto enthusiasts look forward to the first  SEC-approved Bitcoin ETF in the country this year, considering all the pending applications. However, JPMorgan, in a recent report, pointed out that listing a Bitcoin ETF may cause more harm than good.

(Jamie Dimon)?; Bitcoin needs regulation?; Bitcoin led by “stupid investors” (David Stockman)?; Bitcoin changes the world?. Etc, etc etc, but you get it. So what do you do? OH, let the NYSE create LEVERAGED ETFs for investors/traders. How silly of all of us. If the SEC and the NYSE think “regular” bitcoin and their futures are risky the ONLY way to manage that risk is to…….LEVERAGE. FOLKS, this is way to easy. I am going to create a 10X ETF funded by an ICO to take ALL the risk out of bitcoin. Anybody want in? “The New York Stock Exchange has asked the Securities and Exchange Commission to allow it to list five bitcoin-related exchange-traded funds (ETFs) on one of its markets, according to an SEC filing. The ETFs were created by Direxion Asset Management to track bitcoin futures trading. While they are not tied to the price of bitcoin itself, the funds aim to multiply investor returns when compared to the underlying market, the filing said. The instruments, named 1.25X Bull Fund, 1.5X Bull Fund, and 2X Bull Fund, will leverage “investment results (before fees and expenses) that correlate positively to either 125%, 150%, or 200% the daily return of the target benchmark,” the filing said. For each fund, that means a 1 percent rise in the price of bitcoin futures should result in a per-share gain of between 1.25 percent and 2 percent, depending on which Bull Fund is used. However, the potential for higher rewards also comes with higher risk: If the price of bitcoin falls, investors’ losses would be multiplied by 1.25. As such, the funds are not intended for long-term investing, the filing said. The NYSE has issued several filings related to the bitcoin market, including for bitcoin-related ETFs, with the SEC. If the SEC approves this request, the five ETFs will be listed on Arca, a secondary marketplace on the NYSE. The news was first reported by Business Insider and Reuters. The NYSE’s move comes after two of its rival exchanges, the Cboe and the CME, won approval to list bitcoin futures…”

exchange-traded fund in September 2019, after suffering several refusals from the SEC.

The ETF is a listed financial instrument that replicates the behavior of one or more financial assets. For now, the SEC has consistently refused requests from fund managers to set up a Bitcoin ETF.

The reason behind these refusals? The Bitcoin market would still be “too manipulated“. From a pragmatic point of view, of course that the market is manipulated in the classic sense of the term, the market not being strictly speaking regulated. The practices of pump and dump, of wash trading or even spoofing are indeed present in this market and their occurrences are fully documented.

The success of the request is therefore closely linked to the proposals that VanEck has made to overcome this problem. The proposed solution would be to use the price of Bitcoin from several exchanges, via the services of CryptoComprate, to determine a fair value of the asset. This solution could make it possible to counter the biggest excesses of whales holding a lot of bitcoins and seeking to violently liquidate large positions, but for the rest it necessarily seems insufficient. This argument alone is therefore unlikely to convince the SEC.

In addition, the SEC is in a period of transition with the resignation of Jay Clayton, at its head for several years, and the arrival of the Biden administration which could be more favorable to the development of the crypto ecosystem in the United States (or not, of course).

If the request is successful, the ETF will be traded on the CBOE BZX exchange under the name VanEck Bitcoin Trust. While US investors wait, the closest thing to an ETF right now is the Grayscale Bitcoin Trust. This type of fund is a pooling of large sums of money for the purpose of buying bitcoins. However, this type of asset is not easily accessible to small investors, since it is limited to the famous “qualified investors” on US soil.

bitcoin reserves held by well known companies started swelling after the billion-dollar firm Microstrategy purchased $250 million worth of bitcoin in August. Now there are 29 firms that are holding the cryptocurrency in place of traditional reserves like stocks and cash.

There’s been a new trend lately, as a great number of prominent companies have decided to leverage bitcoin (BTC) for reserves rather than hold traditionally held assets. The trend started gaining ground after Microstrategy purchased $250 million worth of BTC and shortly after, the firm continued to purchase even more bitcoin. After a few purchases, Microstrategy has upped its holdings to 70,470 BTC or .336% of the supply. Following Microstrategy’s purchase, businesses like Square Inc. and Ruffer Investment Company joined the bitcoin purchasing trend.

To-date there’s an aggregate total of 29 firms listed on the website bitcointreasuries.org, a site that tallies up all the companies in three different sections; publicly traded, private, and ETF-like holders.

There’s a total of 15 publicly traded firms including Microstrategy Inc., Galaxy Digital Holdings, Square Inc., Hut 8 Mining Corp, Voyager Digital LTD, Riot Blockchain, Inc., Bit Digital, Inc., Coin Citadel Inc., Advanced Bitcoin Technologies AG, Digitalx, Hive Blockchain, Cypherpunk Holdings Inc., Bigg Digital Assets Inc., Argo Blockchain, and Frmo Corp. All 15 of these publicly traded firms have approximately 100,003 BTC worth

The section of private companies holding bitcoin treasuries includes four private companies including Mtgox k.k., Block.one, Tezos Foundation, and Stone Ridge Holdings Group. The private companies have more than the public firms by a longshot with 317,383 BTC worth — in all four firm’s reserves.

There are nine ETF-like holders at the bottom of the bitcointreasuries.org list with funds like the Grayscale Bitcoin Trust, Coinshares, Ruffer Investment, 3iq The Bitcoin Fund, Grayscale Digital Large Cap, Bitwise 10 Crypto Index Fund, WisdomTree Bitcoin, 21shares AG, and ETC Group Bitcoin ETP.

The bitcoin (BTC) stash held by the nine funds is approximately 734,232 BTC worth — using today’s exchange rates. Out of all 29 companies, the Grayscale Bitcoin Trust is by far the largest BTC holder with 572,644 BTC. Other notable holders include the Mtgox k.k. Holdings, Block.one’s stash, Microstrategy’s reserves, and the holdings held by Coinshares. The web page bitcointreasuries.org, does not include a few other firms that have replaced traditional assets in their treasuries for bitcoin.

This includes the Canadian restaurant chain Tahini’s, and the Canadian graphics software company, Snappa. Tahini’s restaurant chain revealed the company swapped all of its cash reserves into BTC, while Snappa said the business traded 40% cash reserves for bitcoin.

The publicly listed Canadian company Mogo also just announced investing 1.5% of the company’s reserves in bitcoin, and plans to buy more next year. When Tahini’s decided to tell its financial advisor it was purchasing bitcoin right afterward, he suggested gold. The restaurant owners said the precious metal gold’s years of being a reliable safe haven are numbered.

“We looked our financial advisor in the eye and told him gold will turn into a scam because of bitcoin,” the company tweeted. “He laughed and condescendingly came back with the 6,000 years argument,” Tahini’s added.

What do you think about all the companies that have purchased bitcoin for reserves? Let us know what you think about this subject in the comments section below.

The post The Bitcoin Treasuries List Exceeds $30 Billion – 29 Companies Hold BTC Reserves appeared first on Bitcoin News.

granted. Ric Edelman, co-founder of Edelman Financial Services, insisted in an interview with CNBC that a Bitcoin ETF was “virtually certain”.The derivative market for Bitcoin and altcoins are still a nascent development and while many mainstream financial players may have been watching from a distance, some have drawn closer to become pioneers from the traditional system to venture into cryptocurrency-related markets built on the topology of the traditional market.Edelman’s comment that it was only a matter of time, adds yet another to many recent speculations that continue to draw the spotlight on Bitcoin in mainstream finance.Bitcoin News reported earlier how mainstream financial players are considering hedging 1% of their portfolio funds to bitcoin – playing it safe with almost nothing to lose. Edelman also agreed to this strategy implying that the price volatility of the Bitcoin market can have useful impacts when favorable, and minimal when the price dips – after all, it’s just 1% of funds in the portfolio that will be affected.He further reiterated the concerns of the regulatory watchdog, suggesting that the concerns of the SEC with regards to the crypto industry are legitimate and thoughtful. While affirming his confidence in the cryptocurrency markets and the efforts of key drivers in the industry towards overcoming these challenges, he, however, feels the time isn’t right for ordinary investors to dive into crypto investments, and that the ETF may highlight that hallmark. He said:“It’s at that stage [Bitcoin ETF] that I will be much more comfortable recommending that ordinary investors participate.”The Cryptocurrency industry is one of the most dynamic and innovative financial systems. However, regulators have thought it wise to tread carefully due to the overwhelming issues currently plaguing the industry, which the SEC has bored down to two basics: custody infrastructure and market oversight concerns – given that the nature of digital assets built on the blockchain is essentially decentralized.Edelman further opines that serious players are in the industry, and are pulling in resources to ensure that they surmount the challenges highlighted by the SEC.After multiple rejected Bitcoin ETF applications last year and a withdrawn application earlier this year due to the United States government shutdown, Chicago Board Options Exchange (CBOE), SolidX, as well as VanEck have reapplied with the SEC keeping fingers crossed.At this point, there’s no doubt that there’s high demand for Bitcoin ETF; from mainstream financial institutions to current crypto market participants; everyone is eagerly waiting to see the ETF approval lift the long bear-ridden cycle of the market.Logically, the expectations are hinged on the premise of a similar occurrence in the December 2017 hype-drive, when Bitcoin futures introduced into the market by CBOE and CME Group ushered in a new class of investors and traders, thereby propelling the price-value of Bitcoin as well as alt markets.ETF is one among others in the pipeline of financial derivatives that may fully launch crypto into mainstream finance. Recently, LedgerX introduced a new derivative called Binary Wager that would bet on Bitcoin’s next halving date. This occurrence happens once in every four years, and the new instrument can be classed under the long term derivate market. Either way, it would seem a lot of individuals have long term expectations for Bitcoin as well as the crypto market in general.Telegram Alerts from BitcoinNews.com: https://t.me/bconewsWant to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.Get the best viral stories straight into your inbox!US-based cryptocurrency exchange Coinbase may have listened after all to the agitations of…Get the best viral stories straight into your inbox!

the Securities and Exchange Commission, Direxion unveiled plans for the Direxion Daily Bitcoin Bear 1X Shares, Direxion Daily Bitcoin 1.25X BullShares, Direxion Daily Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull Shares and Direxion Daily Bitcoin 2X Bear Shares. The funds "will offer investors the opportunity to obtain daily short, leveraged long or leveraged short exposure to the lead month bitcoin futures contract traded on the Chicago Mercantile Exchange ("CME") or on Cboe Global Markets, Inc. ("CBOE") or on any other U.S. exchange that subsequently trades bitcoin futures contracts,” according to the filing. Digital currencies have rapidly developed a reputation for being a volatile asset class, meaning it was probably just a matter of time before ETF issuers looked to add leverage to the equation. Still, it pays to remember leveraged cryptocurrency ETFs, assuming the funds come to market, will carry the same warnings as traditional leveraged ETFs. Mainly, these funds are intended to be short-term, intraday instruments. "Each Fund will seek daily correlation to the target benchmark and should not be expected to track the performance of the target benchmark for any period longer than one business day," according to Direxion's filing. "Additionally, while each Fund will seek daily correlation to the target benchmark, it should not be expected to track dollar for dollar the spot price of bitcoin because the Fund will invest in Bitcoin Futures Contracts rather than directly in bitcoin, and the spot price movements of bitcoin may not correspond directly to price movements of the Bitcoin Futures Contracts." The idea of lightly leveraged ETFs isn't new. Direxion already offers two such products, the Direxion Daily S&P 500 Bull 1.25X Shares (NYSE: LLSP) and the Direxion Daily Small Cap Bull 1.25X Shares (NYSE: LLSC). Last year, Direxion filed plans for a more traditional bitcoin fund, the Direxion Bitcoin ETF. Assuming that fund is approved, it will look to “to provide total return that exceeds that of bitcoin futures contracts over a complete market cycle," according to a SEC filing. The SEC has yet to approve any ETF based on digital currencies. Issuers Scramble To Launch Bitcoin ETFs Commodity, Currency, Security, Or Scam: What Type Of Asset Do You Think Bitcoin Is? Posted-In: Cryptocurrency Long Ideas News Short Ideas Specialty ETFs New ETFs Futures Forex Best of Benzinga

quadrupling last year, bitcoin's market value last weekend was hovering around $610 billion. Said differently, if the cryptocurrency were a publicly-traded domestic company, it would be the seventh-largest component in the S&P 500.

All that enthusiasm made its way to blockchain exchange-traded funds, a group of thematic ETFs that debuted several years ago around the time of bitcoin's initial epic surge, one that results in a similarly epic slide. One member of that group is the Amplify Transformational Data Sharing ETF (NYSE: BLOK).

Why It's Important: Until a dedicated bitcoin ETF is approved in the U.S., funds like BLOK can give investors some synthetic crypto exposure. Data confirm BLOK is responsive to bitcoin moves as the Amplify ETF surged 86.56% last year and its trough-to-peak move was nearly a triple.

“BLOK is an actively managed ETF that seeks to provide total return by investing at least 80% of its net assets in equity securities of companies actively involved in the development and utilization of blockchain technologies,” according to the issuer.

Data suggest some investors are embracing the notion of BLOK as something of a bitcoin proxy. In mid-December, Amplify put out a press release stating the ETF topped $250 million in assets under management. Now, just a few days shy of its third birthday, BLOK is a $361.55 million ETF.

“As applications using blockchain technology continue to expand, we believe BLOK offers investors an attractive way to participate in this growing market segment,”  said Amplify CEO Christian Magoon. “From food safety, to cryptocurrency to the issuance of sovereign debt, blockchain technology is impacting the lives and portfolios of investors around the world each day. We believe BLOK’s unique set of holdings and actively managed approach will continue to distinguish it in the marketplace in terms of assets under management and shareholder returns.”

What's Next: Investors should note that BLOK is NOT a bitcoin ETF. It's an equity-based fund, though some of its holdings, such as Square (NYSE: SQ) and PayPal (NASDAQ: PYPL), are increasingly levered to the crypto trade.

Overall, BLOK holds 54 stocks, roughly 42% of which are technology names and nearly 23% of which hail from the financial services sector. None of those holdings exceed weights of 4.93%.

There is optimism around the prospect of the SEC approving a bitcoin ETF under new leadership, the analysts say.

JP Morgan published a report on Friday that discusses the impact of an SEC-approved bitcoin ETF on the bitcoin market. “Optimism around the prospect of the SEC approving a bitcoin ETF in the US this year has risen in anticipation of SEC leadership changes,” the analysts wrote, stating:

The approval of a bitcoin ETF in the US this year would likely be negative for bitcoin in the near term.

The analysts, including strategist Nikolaos Panigirtzoglou, proceeded to explain why they are forecasting a negative outlook. “The reason is a potential decline in the Grayscale Bitcoin Trust (GBTC) premium to NAV [net asset value] from the introduction of bitcoin ETF in the US, which would unwind a big portion of GBTC investments currently placed for monetizing this premium.”

They elaborated that “Some institutional investors likely subscribed to GBTC (at NAV) during the second half of last year with the intention of selling after the 6m unlock period … As the 6m unlocked period expires, some of these institutional investors might sell GBTC during the first half of 2021 to monetize the premium. If it materializes, this selling pressure would put downward pressure on GBTC premiums.”

Emphasizing that a bitcoin ETF would provide an alternative investment vehicle to GBTC for institutional investors, the JP Morgan analysts concluded:

A cascade of GBTC outflows and a collapse of its premium would likely have negative near-term implications for bitcoin given the flow and signaling importance of GBTC.

Nonetheless, JP Morgan’s analysts admitted in their report that the approval of a bitcoin ETF in the U.S. would be positive for bitcoin over the long term.

Many people on Twitter disagree with the assessment by JP Morgan’s analysts that an SEC-approved bitcoin ETF would be negative for the industry at all. Vaneck’s director of digital assets strategy, Gabor Gurbacs, tweeted that “Institutions want a bitcoin ETF.” His company recently filed a proposal with the SEC for a bitcoin ETF.

Gurbacs opined: “I believe that a bitcoin ETF may bring many structural benefits to the bitcoin as well as traditional financial markets.” Contrasting JP Morgan analysts’ view, the Vaneck director wrote, “The approval of a bitcoin ETF would be positive for bitcoin in the near as well as long term.”

Do you think the SEC approving a bitcoin ETF this year is good for bitcoin? Let us know in the comments section below.

Trust is an ETF that represents BTC holdings at a 1:1 ratio. Investors do not hold Bitcoin; rather, they hold an asset tied to Bitcoin’s performance.

VanEck plans to partner with a custodian and issue shares of its total Bitcoin custody based on the net asset value (NAV) of the shares. The holders will be able to sell the shares in the market, usually at a premium. The firm intends to list its fund on the Cboe BZX exchange.

It’s not clear whether VanEck’s latest attempt to introduce an ETF will succeed, given that the firm’s past attempts have failed. VanEck has made at least three attempts since 2017.

VanEck has been more successful in other related areas. The firm has already introduced an exchange-traded product (ETP) in Europe, as announced in late November. That ETP is listed on Germany’s Deutsche Börse Xetra venue and trades alongside other crypto ETPs in Europe like 21Shares.

Meanwhile, U.S. firms such as Grayscale have succeeded in introducing Bitcoin trusts, though those are not considered exchange-traded funds.

As such, the success of the above investment vehicles does not necessarily mean VanEck’s ETF will be approved. To date, no Bitcoin ETF has been approved in the U.S.

At the time of writing this author held Bitcoin and less than $15 of altcoins.

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Securities and Exchange Commission to establish a Bitcoin ETF named The VanEck Bitcoin Trust. Same as the last applications this ETF’s shares would be traded on the Cboe BZX Exchange. In the document, it is mentioned

Grayscale, an institutional crypto investment giant had added a total of 72,950 BTC to its assets under management and at the same time, it had mined 28,112 BTC. These numbers show liquidity squeeze in Bitcoin which can be explained as large buyers sucking up any available supply and removing it from the circulation cycle.

The United States Financial Crimes Enforcement Network (FinCEN) wants to propose some changes in the Bank Secrecy Act regarding the reporting of foreign financial accounts holding digital currency which till now are not being covered by Foreign Bank and Financial Accounts (FBAR) regulations. After the amends, U.S. citizens will have to disclose cryptocurrency accounts held with foreign institutions if the value is above $10,000.

Dash Core Group has moved development work on the v0.17 of its platform to the testnet phase. Dash has also disclosed how the testnet environment is five times larger than Evonet. This update will have protocol improvements for light clients as well as enhanced functionality for the apps on both iOS and Android. Dana Alibrandi, the head of product at Dash said

At the start of this decade, Bitcoin and Polkadot have hit their new all-time high. Bitcoin had hit $29,678 in 2021 as per data from Binance. In an earlier post by Todayq News, 2020 has been a year of gains for Polkadot, and on the very first day of 2021, it has hit an all-time high of $9.43 (69.26% increase within 7 days) as per the data from CoinMarketCap.

Wednesday to win approval for a VanEck Bitcoin Trust.

Prior to Wednesday’s filing, VanEck retracted its last push for a Bitcoin ETF with the SEC in September of 2019.

As was proposed in its previous filing, the ETF would trade on the Cboe BZX Exchange.

So far, the SEC has denied all attempts to launch a BTC ETF.

However, VanEck and other financial firms may feel a sense of renewed confidence on the heels of major Bitcoin adoption in 2020.

The number one crypto asset by market cap has caught the attention of billionaires and institutional investors this year coinciding with its run up to over $33,000.

Additionally, SEC chairman Jay Clayton has stepped down from his position, perhaps leaving room for a more crypto-friendly regulator to take the reins when President-elect Joe Biden steps into office.

The consequences of a Bitcoin ETF would likely be significant. Macro analyst and investor Raoul Pal says there is a tidal wave of institutional investors waiting on the sidelines for the launch of such a trust.

Featured Image: Shutterstock/spainter_vfx

Bitcoin hit an all-time high as we close the year 2020. 

The recent occurrence in the crypto space is an indication that the coming year (2021) will be one of unprecedented innovation in the crypto industry. Therefore, as a newbie or a seasoned crypto holder, you will be coming across many crypto brokers or cryptocurrency exchanges. 

The major challenge will be identifying the best among the many crypto brokers you are bound to interact with. This post will help you narrow it down to know which crypto exchange is best for you. 

It is not any platform that can offer the services of a crypto exchange. Certain things set these crypto brokers apart from the rest of the market. We shall explore three of these reasons:

For you to consider any platform a crypto broker, the platform must have a greater liquidity pool. Any cryptocurrency that is bought or sold requires someone to buy from or sell to. The more people buy and sell, the more “liquid” the platform will be. Before a platform can be seen as a good crypto exchange, it must have a good number of sellers and buyers. 

In other words, the exchange needs to populate its trading pairs order books with buyers and sellers. By doing this, the exchange provides a viable market for its users. 

One key feature of a suitable crypto broker is that it has reduced spread and slippage fees. Ideal cryptocurrency exchange with high liquidity in the order book will lead to low spread and slippage fees. A low liquidity crypto broker will result in the high spread and slippage fees that will eat deep into your funds. 

Every good crypto broker will have an increased crypto pair to trade. The ability of a cryptocurrency exchange to offer assets without liquidity losses is a great advantage. Users can use a single cryptocurrency broker trade, manage their crypto portfolio, and store assets in one location without the need to register with multiple exchanges to trade. 

Leading Crypto brokers to watch in 2021

This list follows no specific order but explores all the top crypto exchanges that you need to follow closely.

eToro is an Israeli based social trading broker that was founded in 2007. eToro serves its UK customers through a regulated unit by the Financial Conduct Authority (FCA). It also serves its Australian customers through a regulated unit by the Australian Securities and Investment Commission (ASIC). However, all other customers are served by the Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC). 

Although eToro does not disclose its annual report on its site and does not also have a bank parent, it is considered safe. The major reason it is considered safe is that top-tier financial authorities regulate its UK and Australian arms.

eToro offers products like stock, Exchange-traded fund (ETF), Forex, Contract for Difference (CFD), and crypto. There is a charge for inactivity, and the withdrawal fee is $5. 

Take nothing away from eToro; it is arguably one of the top crypto brokers to look out for in the coming year. 

Stormgain is one of the exciting crypto brokers that you should watch out for in 2021. Users can leverage the volatile crypto market with well-known crypto pairs and use high leverage of up to 300x. Every contract is settled in the stablecoin Tether (USDT). The stablecoin will appeal to traders to limit their portfolio exposure and limit the exchange rate risk peculiar to Bitcoin and Ethereum. 

Stormgain supports the following crypto; Bitcoin, Bitcoin gold, Cardano, Dash, EOS, Ethereum, Ethereum Classic, Ripple, NEO, Stellar, Tether, Tron, and a host of others. This crypto broker also risks management tools like stop loss, take profit, crypto forecasts by Stormgain specialists, and indicators. 

If you are a cryptocurrency enthusiast, you must have heard of Coinbase crypto exchange. It is one of the biggest cryptocurrency brokers, available in more than 100 countries with over 30 million users worldwide. 

This platform is duly registered and regulated in the United States. Although it started as a Bitcoin brokerage service, additional services got incorporated along the line. Coinbase supports more than 20 different cryptocurrencies; examples include Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, EOS, Stellar Lumen, Ethereum Classic, USD Coin, Zcash, etc. 

Binance is one of the leading crypto brokers in the world, and this is the more reason you need to watch out for it. By trading volume, Binance is the world’s largest online cryptocurrency exchange. There is a wide range of cryptos available on the Binance crypto exchange. You can find the top 20 cryptos by market capitalization on Binance and other smaller and less known cryptos. 

You have the Bitcoin, Ether, BNB, and Tether trading pairs, and there are also crypto/fiat pairs on Binance.

This is one of the top and well-known crypto brokers supporting the trading of more than 70 cryptos. It was founded in 2016 and is designed to provide crypto traders and investors with a wide range of crypto options. Crypto.com supports all the leading cryptos by market capitalization. Examples include Bitcoin, Ether, Ripple, Stellar Lumen, Tether, USD Coin, Cardano, etc. 

It also supports the lesser-known cryptos like Cosmos, Enjin Coin, ICON, Tezos, and VeChain. Users who already own cryptocurrencies that are supported by Crypto.com can transfer them to Crypto.com compatible wallets. Users can also deposit fiat through wire transfer or buy cryptos with a credit card using the Crypo.com App.

Another one of the great crypto brokers to look out for in 2021 is Prime XBT. Prime XBT is both a cryptocurrency and forex broker that provides leveraged trading to traders across the world. Since it was founded in 2018 in Seychelles, the platform has grown to serve customers in more than 150 countries. 

There is a range of visualization tools, execution methods, and trading histories. You can execute different order types on Prime XBT, with the option to simultaneously place stop losses and take gains. The leverage rates at Prime XBT are very competitive, especially when crypto pairs offer up to 1:1000. Prime XBT deals exclusively on cryptos when it comes to transactions. 

The last but not the least on our list of top crypto brokers to watch out for in 2021 is Gemini. Gemini is built on transparency and user empowerment. It is exclusively a Bitcoin and Ether exchange platform. Currently, Gemini is a New York Trust Company and has acquired the Bitlicense. This means that Gemini is certified as a crypto company operating under the supervision of the New York Department of Financial Services (NYDFS). 

Gemini also has insurance for all user funds deposited on the exchange. In 2016, Gemini became the world’s first licensed Ether exchange. According to coinmarketcap, Gemini is the 39th largest exchange in the world. This platform also provides crypto to fiat payments and BTC/ETHC market. Gemini accepts fiat currency (only USD). 

These top crypto brokers to watch out for in 2021 are positioned to lead the crypto exchange market. The question is, which one of them will take it all as we head into the New Year? Well, time will tell. 

acceptance of Bitcoin gathering pace massively in 2020, what are the odds of a Bitcoin ETF in 2021? We run through the pros and cons of such a development.

Institutional investment – the expenditure of billions of dollars on Bitcoin by publicly traded companies, institutions, and hedge funds has led to a sentiment shift in Bitcoin, with the result that even its bitterest opponents have admitted that its fundamentals might, after all, be sound.

Regulation – Bitcoin, and the cryptocurrency sector in general, are more heavily regulated than ever before, with signs that even tighter controls and monitoring are on the way. Anonymous crypto usage is becoming harder and harder, which only helps increase its legitimacy.

Security – Security of funds is without question the best it has ever been. 2020 has seen far fewer exchange hacks than in previous years, while exchanges now work together and with law enforcement to track down stolen funds and prevent them from being cashed out where possible. Concerns over security of private wallets will of course remain, but this can only improve with education.

Time – Obtaining an ETF is a lengthy process, with the SEC almost always extending their deadlines until the very last day, meaning that new applications could be waiting 14-18 months for a decision. The rejection of Wilshere Phoenix’ Bitcoin ETF application in March meant that there were none pending, and any starting in 2021 are unlikely to have a verdict given in the same year.

Manipulation – Price manipulation has always been a key rejection reason, and on that score not a great deal has changed. Yes, there is far less Bitcoin on exchanges and the number is decreasing month on month, but the fact remains that while 2% of Bitcoin wallets own 95% of the supply there are still massive price manipulation concerns.

While it is true that institutional acceptance of Bitcoin will certainly help its case, particularly the relationship between PayPal, Paxos, and the New York State Department of Financial Services, the principle of a Bitcoin ETF remains in the balance as the other areas of concern don’t seem to have been addressed yet.

The timing could also be crucial, with 12 months likely not enough time to see a Bitcoin ETF filed and approved, meaning 2022 might be a more likely timeframe.

ago.

In 2017, VanEck became the first company to file for a Bitcoin exchange-traded fund registered under the Investment Company Act, while SolidX has been working to bring a Bitcoin ETF to market since 2015. The two firms joined forces in June 2018, with SolidX touting its deep experience with crypto as a compliment to VanEck’s extensive background in issuing financial products.

On Dec. 31, VanEck announced it had filed a new application for a Bitcoin ETF.

According to the lawsuit, VanEck’s SEC filings suggest the firm was “surreptitiously working on its own Bitcoin product even while telling the world that it was 'married' to SolidX.” The blockchain firm asserts:

The plaintiff also alleges that “VanEck began announcing products that directly compete” within weeks of their terminated agreement, and that VanEck “could not have begun to issue [said products] without working against SolidX's interests while still its business partner.”

In November, VanEck launched a physically-backed Bitcoin exchange-traded note on Germany’s Deutsche Börse Xetra market.

SolidX states that VanEck’s “marquee” brand and “credibility” as an ETF issuer informed its decision to team up with the firm, claiming that VanEck “had little, if any, expertise in Bitcoin” and hired SolidX for its expertise on crypto assets.