22. November 2018 share Facebook Twitter LinkedIn xing mail
While VanEck for their Bitcoin ETF (exchange-traded Bitcoin Fund) nor the blessing of the US securities regulator, the SEC, waits, accepts the proposal of concrete forms. Although it was known for some time that the ETF is intended to reflect the Performance of Bitcoin. However, it is not yet clear which rate should the index be used. This question is now resolved, apparently. The answer is hidden behind the bulky name "MVIS Bitcoin US OTC Spot Index" – in short: MVBTCO. So the Name of the new Index, the VanEck, a subsidiary of MV Index Solutions (MIV's) in a press release on 20. November presented. The Index is calculated from the Bitcoin-rate of selected OTC trading platforms (Over-the-Counter Trading Desks, OTC).
Specifically, it is the OTC-traders Circle Trade, Cumberland, and Genesis Trading.
"We are pleased to be the first company to bring a Bitcoin-Index on the basis of the price feed from OTC trading desks on the market,"
glad Thomas Kettner, Managing Director at MIV's lures.
"The Index gives customers trading off-exchange, a reliable reference value for your business or potential investment products,"
Also, Michael Moro, CEO of Genesis Trading, launches in the Horn:
"We are pleased at the MVIS-price index, to participate, to help the space to Mature and to gain more legitimacy,"
The other two parties involved in OTC trading venues also expressed their delight to be able to contribute to a growing legitimacy of crypto-currencies.
"We are proud to make our markets the MVBTCO Index that enables the access to reliable data and greater transparency in the OTC-area,"
Cumberland-in-chief Jason Leung.Bitcoin ETF: An "institutional" matter,
is That it is mainly institutional investors, among other things, by the comment of Circle-COO Elisabeth Carpenter clearly:
"MVIS makes significant progress in the provision of reliable and transparent data for the Bitcoin market for the institutional community."
Even if the press release is not specifically from the VanEck SolidX Bitcoin ETF is talk, there is no doubt that the MVBTCO for which the price determination will see in use. Not only the fact that MVIS is a VanEck-daughter, speaks, also, the following sentence from the press release:
"The Index can pave the way for institutionally-oriented products, such as ETFs and institutional investors with additional instruments to transactions in institutional size order at transparent prices in the OTC-markets."
Many assume that the initial institutional is a big miss for investors Bitcoin and co. a breath of fresh air. However, a decision by the SEC over Bitcoin ETF proposal VanEck this year is to be expected. With the MVBTCO VanEck now has another Argument to the concerns of the SEC to disperse.