AOFEX Insight: Bitcoin-linked ETF Officially Gets Listed

ThefirstbitcoinETFfinallygetslistedintheUnitedStatesafter8yearsofa?longjourneysince2013.TheU.S.SECapprovedthefirstbitcoin-linkedETFafterits5commissionmembers’discussion.

It'sunderstoodiftheSECdoesnotreject,delayoraskmorequestions,thebitcoin-linkedETFproposalwilltakeeffectautomatically.DuringOctober15-18,norejection,delayormorequestionswere?heard.At9:30am,October19,ProShares’sCEOMichaelSapirrangthebellattheNYSE.Itisamilestoneinthehistoryofbitcoin,whichseesthepublic?listingofbitcoin-linkedETFbyProSharestradingunderTickerSymbolBITO.After4tradingdayssinceOctober20,1.2billiondollarsflowintothebitcoin-linkedETFandthebitcoinpricehitsanewrecord.

ItislearnedthatthefeeontheETFis0.95%,whichisonly?halfofthefeeonGBTC,whichis2%.Atthesametime,GrayscaleInvestmentsplansonfilinganapplicationtoconverttheworld’sbiggestbitcoinfundintoaspotETF,accordingtoapersonwithknowledgeofthematter.Bitcoin?trust?isnotthedesiredoneforGrayscale?fromtheverybeginning.InJanuary2017,GrayscalefiledanapplicationofbitcoinspotETFlistingtoSEC,butwithdrewitinOctobersinceSECthinksthebitcoinmarketisextremelyrisky.NowitseemsthatGrayscale?nevergivesupthebitcoinETF.

AOFEX商务副总裁:赤兔云算力平台成立的初衷是为用户提供提供多算法、多币种的云挖矿服务:据官方消息,AOFEX商务副总裁Vivian受邀参加本次2021上海区块链峰会,并在关于AOFEX与赤兔云算联合推出了云算力平台的采访中表示,我们的宗旨,是为用户提供不同规模的加密数字货币挖矿能力的一站式解决方案。目前上线的每一期云算力产品都在非常短的时间内售罄,这一方面说明我们的云算力产品具有非常明显的优势;另一方面,也说明了云算力挖矿存在巨大的市场需求。而赤兔云算力平台成立的初衷,是为用户提供提供多算法、多币种的云挖矿服务,为用户提供不同规模的加密数字货币挖矿能力的一站式解决方案。正式这种合作使我们平台解决了许多的问题,为大家提供了参与渠道,降低了参与门槛,避开了很多潜在的风险,让用户朋友们能够真正轻松参与,获得挖矿红利。

AOFEX数字货币金融衍生品交易所,旨在为用户提供优质服务和资产安全保障。[2021/5/15 22:06:40]

WhatisanETF?

ETF(exchange-tradedfund)meansanexchange-tradedopenindexfund.Itisatraditionalfinancialmarketconcept,listedonexchanges,openwithvariablefundshares,suchasBUZZETF,ARKETF,VanguardETF,andSPYETF.

ETFvsmutualfund

ListingonexchangesComparedtotraditionalmutualfunds,listingonexchangesisfeaturedbystandardizedproducts?amonginvestors,all-daytradingcapability,andliquidityenhancement.

InstanttransparencyofshareholdingItallowsallinvestorstolearnaboutthefundshareholdingintheday,helpsplaytheroleofarbitrage,andguaranteesthatETFanditsunderlyingassetsaretradedindependentlyandrelevantly.

AOFEX将于1月29日上线MATIC、BOT、DODO:据官方消息,AOFEX交易所于1月29日正式上线MATIC、BOT、DODO并已开放充值及提币功能,AQ及USDT交易区14:00开放上线MATIC以及BOT交易,16:00开放上线DODO交易。

Matic Network是一个第二层扩展性平台,实现快速、简单和安全的链下交易的脱链智能合约。Bounce是一个去中心化代币交换平台,BOT是该平台的原生功能型代币。DODO是基于主动做市商算法的下一代链上流动性基础设施。

AOFEX数字货币金融衍生品交易所,旨在为用户提供优质服务和资产安全保障。[2021/1/29 14:18:02]

TaxadvantagesThecapitalgainsfrom?ETFsarefarlessthanrelated?mutualfundsbecausetheinteriorfeaturesofcreationandredemptionmechanismsenable?ETFtotransferinandoutassetswithoutanytaxesamongallinvestors.

InvestorswillnotbeaffectedbythebehaviorsofotherETFinvestors.ItisincrediblyimportantbecausenomatterwhereyouaretheonlyETFholderoroneofthe?millionsofshareholders,you?willnotbeaffectedduetootherinvestors’engagementorwithdrawal.Itvaries?considerablyfrommutualfundswherethefeesonassetsarechargedbythe?investorbase.

Whatisthefirstbitcoin-linkedETFintheU.S.?

Thebitcoin-linkedETFisacrypto-based?traditionalETF?andafinancialinvestmentproduct.Comparedtodirectinvestmentinbitcoinanditstrustfunds,thereisnoguaranteethatthebitcoin-linkedETFcanbringdesired?profitsforinvestorsbutprovidesalowerinvestmententry.

AOFEX平台币OT现报价11.94AQ 日内涨幅3.12%:数据显示,AOFEX交易所平台币OT最新成交价为11.94AQ,日内涨幅3.12%,24小时成交量为1290万OT。

AOFEX数字货币金融衍生品交易所,旨在为用户提供优质服务和资产安全保障。[2020/11/25 22:02:44]

Thefirstbitcoin-linkedETFisProSharesBitcoinStrategyETF(BITO),whichisappliedtobecreatedbytheassetmanagementcompanyProShares.ProSharesonLinkedin?showsthatithasbeenattheforefrontoftheETFrevolutionsince2006.Withoneofthenation’slargestlineupsofETFs,thecompanyprovidesinnovativestrategicandtacticalETFsdesignedtomanageriskandenhancereturns.ApartfromvariouspositivetrackingindexETFs,italsoincludes?low-leveragereverseETFs.

ProSharesBitcoinStrategyETF?seekstoprovidecapitalappreciationprimarily?throughactivelymanagedexposuretobitcoinfuturescontracts.?TheFunddoesnotinvestdirectlyinbitcoin.Therefore,the“bitcoin-linkedETF”referstostandardized,cash-settledbitcoinfuturescontracts?tradedoncommodityexchangesregistered?withtheCommodityFuturesTradingCommission?(“CFTC”).Thevalueofbitcoinfuturesisdeterminedbyreference?totheCMECFBitcoinReferenceRate(“BBR”),?whichprovidesanindicationofthepriceofbitcoinacross?certaincashbitcoinexchanges.TheFundseekstoinvestin?cash-settled,front-monthbitcoinfutures.Front-month?bitcoinfuturescontractsarethosecontractswiththe?shortesttimetomaturity.

AOFEX创新型期权24H交易量2276万USDT:据AOFEX创新型期权交易数据:截至18:30, BTC 1M交割期权成交量437.6万USDT,多空换手频次15186次,看多/看空买入量比为1.16;5M交割期权成交量957.2万USDT,多空换手频次26308次,看多/看空买入比为1.17。

AOFEX数字货币金融衍生品交易所,旨在为用户提供优质服务和资产安全保障。[2020/11/16 20:58:16]

Highlightsofthefirstbitcoin-linkedETFintheU.S.

TheFunddoesnottaketemporarydefensivepositions.The?Fundwillgenerallyholditsbitcoinfuturescontractsduring?periodsinwhichthevalueofbitcoinisflatordecliningas?wellasduringperiodsinwhichthevalueofbitcoinisrising.?Inordertomaintainexposuretobitcoinfuturescontracts,the?Fundmustsellitsfuturescontractsastheynearexpiration?andreplacethemwithnewfuturescontractswithalaterexpiration?date.Thisisoftenreferredtoas“rolling”afuturescontract.Futurescontractswithalongertermtoexpirationmay?bepricedhigherthanfuturescontractswithashortertermto?expiration,arelationshipcalled“contango.”Whenrolling?futurescontractsthatareincontango,theFundwillsellthe?expiringcontractatarelativelylowerpriceandbuyalonger-dated?contractatarelativelyhigherprice.Thatistosay,theFundwill“renew”contractspermanentlyratherthancloseoutthem.Conversely,futurescontractswithalongertermtoexpiration?maybepricedlowerthanfuturescontractswithashorter?termtoexpiration,arelationshipcalled“backwardation.”?

AOFEX于9月3日上线ANKR、BNT、WNXM、CRV:据官方消息,AOFEX交易所于9月3日正式上线ANKR、BNT、WNXM、CRV并已开放充值,16:00开放ANKR/AQ、BNT/AQ交易对,17:00开放WNXM/AQ、CRV/AQ交易对。

BNT(Bancor)是为小市值代币提供流通性的系统;WNXM(Wrapped NXM)是基于以太坊实现风险共担的DeFi平台;CRV(Curve)是基于去中心化自治平台Aragon框架的治理代币;ANKR(Ankr Network)是一个分布式计算平台。

AOFEX是数字货币金融衍生品交易所,旨在为用户提供优质服务和资产安全保障。[2020/9/3]

TheFundseekstofullyinvestintheseportfoliosatanytimetoprovideexposuretobitcoinfutures?

TheFunddoesnotinvestin,orseekdirectexposureto,the?current“spot”orcashpriceofbitcoin.TheFundisclassifiedasnon-diversified,whichmeansithas?theabilitytoinvestarelativelyhighpercentageofitsassets?infinancialinstrumentswithasinglecounterpartyorafew?counterparties.??

Thebitcoin-linkedfuturescontractsonCMEmaysignificantlydifferfrombitcoinspotsininvestmentstrategyrisk,marketandvolatility,liquidityrisk,bitcoinfuturesrisk,bitcoinfuturescapacityrisk,costoffuturesinvestmentrisk,bitcoinrisk,cashandmoneymarketinstruments?risk,subsidiaryinvestmentrisk,borrowingrisk,counterpartyrisk,non-diversification?risk,marketpricevariance?risk,authorizedparticipant?risk,cashpurchase?andredemptionrisk,earlyclosing/delayedclosing/tradingsuspensionrisk,activemanagementrisk,newfundrisk,taxriskandvaluationrisk.?

DifferencesbetweenGBTCandbitcoin-linkedETF

ETFallowsmarketmakerstorandomlycreateandredeemshares,whileGBTCdoesnotallow?andthefundsharescanonlybemonetizedonsecondarymarkets.?

GBTCsetsa6-monthlockingperiod,withahighpremium,whileETFhasbetterliquidityandisfreeofpremiumorreduction.?

GBTCtradingfeesareveryhigh,includingbrokerfees,annualmanagementfeesandpremium.Thebitcoin-linkedETFhaslowerfees.Forexample,fortheBITOonly0.95%ofmanagementfeesarecharged,whilethefirstNorthAmericabitcoinETF——BTCC,listedinCanada,hasalowermanagementfeeof75%.?

GBTCisonlyavailableforqualifiedinvestorswith50,000dollarsatleast.Thebitcoin-linkedETFhas?fewrestrictionsoninvestors’?qualifications?andamounts.?

Insummary,withovertenyearsofinsanedevelopment,thecryptocurrencymarketgraduallygoesbacktobeing?rational.Recently,thecryptocurrencymarketisexperiencinga?hugerevolutionandtransformation.ThecryptomarketplaceincludingBitcoinhasattractedtheeyesof?traditionalfinancialmarkets,andismoving?towardsstandardsandcompliance.

Workingoncryptocurrencydevelopmentforyears,AOFEXkeepsupdatesontheindustry,providescompleteinvestmentchannelsandprofoundinformation,securefinancialservices,helpsthemfindandgraspindustrialopportunities.AOFEXaccompaniesyouonyourinvestmentjourney.

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