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| March 23, 2019

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Levi Strauss IPO: Stock surges nearly 32% in first day of trading

March 22, 2019 |

Levi Strauss & Co. shares hit the New York Stock Exchange on Thursday morning, marking the second Wall Street debut in the iconic jeans maker’s 166-year history.

Late Wednesday, Levi’s priced its initial public offering at $ 17 a share — higher than the estimated range — valuing the company at $ 6.6…


L.A. Times – Business

‘Disappointing’ timing on Model Y crossover pushes Tesla’s stock down

March 15, 2019 |

Compared to past Tesla rollouts, the Model Y’s debut seemed to fall a little flat.

Billed as a sport utility vehicle, the Model Y in fact looks quite similar to Tesla Inc.’s Model 3 sedan, with a higher roofline and raised body.

There are a few differences — the Model Y is capable of carrying more…


L.A. Times – Business

Stock indexes finish nearly flat

March 15, 2019 |

U.S. stock indexes barely budged Thursday as the market’s three-day winning streak stalled.

The benchmark Standard & Poor’s 500 index finished essentially flat as declines by communications, industrial and healthcare stocks outweighed gains by financial and technology companies. Several retailers…


L.A. Times – Business

Invesco Blockchain ETF Trading Commences on London Stock Exchange

March 12, 2019 |

Invesco Blockchain ETF Trading Commences on London Stock Exchange

Invesco, an American investment management company that is traded on the S&P 500, has launched an exchange-traded fund (ETF) targeting companies operating in the distributed ledger technology sector. The blockchain ETF will track nearly 50 companies that stand to benefit from growth in the distributed ledger technology industry including Taiwan Semiconductor Manufacturing Company and Apple.

Also Read: Ledger Reveals Physical Exploits Against Trezor Hardware Wallets

Invesco Launches Blockchain ETF

The Invesco Elwood Global Blockchain UCITS ETF commenced trading on the London Stock Exchange on Monday, March 11. The index is calculated by Solactive AG for Elwood Asset Management.

The fund targets 48 companies that Invesco believes stand to generate significant earnings from the growth of the distributed ledger technology industry. The companies included in the Invesco Global Blockchain UCITS ETF were determined by a proprietary scoring system developed by Elwood.

Invesco Blockchain ETF Trading Commences on London Stock Exchange

Chris Mellor, the head of ETF equity product management at Invesco, stated: “The potential for blockchain to drive real earnings is huge, but it is often hidden within companies involved in other areas. This ETF offers investors access to companies with real earnings now, but with the added potential of blockchain-related earnings not reflected in their share prices.”

80 Percent of Companies Targeted Based in US, Japan or Taiwan

The companies included in the fund comprise the world’s largest semiconductor manufacturer Taiwan Semiconductor Manufacturing Company, cryptocurrency futures operator Chicago Mercantile Exchange Group, South Korean messaging app Kakao, alongside Monex Group, Overstock, Signature Bank, Square and others.

The largest sector allocation of the portfolio is information technology with 46 percent, followed by financials with 23 percent, communication services with 9 percent, and consumer discretionary sectors with 8 percent.

The largest geographical allocations are the United States with 39 percent, Japan with 29 percent, and Taiwan with 12 percent.

Invesco Blockchain ETF Trading Commences on London Stock Exchange

Bin Ren, the chief executive officer of Elwood Asset Management, noted: “We are beginning to see the technology being used by financial services companies in particular, but we expect the greater application of blockchain technology across a wide range of industries.”

Do you think we will see more funds targeting companies that stand to benefit from increasing blockchain and cryptocurrency adoption? Share your thoughts in the comments section below.


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At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Invesco Blockchain ETF Trading Commences on London Stock Exchange appeared first on Bitcoin News.

Bitcoin News

Stitch Fix stock surges on strong quarterly earnings report

March 12, 2019 |

Stitch Fix Inc., the apparel company that uses software to predict what customers want, surged after posting earnings results that beat estimates and issuing a better-than-expected sales forecast for the current quarter.

The stock jumped as much as 25% in after-hours trading after Stitch Fix reported…


L.A. Times – Business

Boeing stock dives after plane crash as Ethiopia, China and Indonesia ground 737 Max 8

March 11, 2019 |

Boeing Co. stock dived more than 7% on Monday morning after one of its workhorse 737s crashed in Ethiopia over the weekend, killing all 157 people aboard. China, Indonesia and Ethiopia have grounded the Max 8, and airlines in other countries have signaled they may follow suit.

The fallout from…


L.A. Times – Business

Swiss Stock Exchange Launches Trading for ETH ETP

March 6, 2019 |

Swiss Stock Exchange Launches Trading for ETH ETP

Switzerland’s SIX stock exchange has announced the launch of an ETH exchanged-traded product. March 5 comprised the first trading day for the ETP, which is backed by Swiss company Amun AG. The launch comes one month after SIX announced its intention to launch a blockchain-powered exchange during the second half of this year.

Also Read: Markets Update: Top Cryptos Reclaim Support as RVN Rallies

Trading for Amun Ethereum ETP Goes Live on Swiss Stock Exchange SIX

Switzerland’s primary stock exchange, the Zurich-based SIX, has launched trading for an ethereum exchange-traded product, the Amun Ethereum ETP (AETH). Flow Traders B.V., a liquidity provider specializing in ETPs, will provide market making services for AETH on SIX.

Swiss Stock Exchange Launches Trading for ETH ETP

The ETP is backed by Swiss startup Amun AG, a company that claims to have launched “the world’s first listed crypto index product” in the form of the Amun Crypto Basket Index ETP (HODL). The HODL index is also traded on the SIX Swiss Exchange, with Flow Traders again providing liquidity for the market.

The HODL basket comprises an index of five leading cryptocurrencies. As of this writing, 49.39 percent of the HODL basket is BTC, 27.2 percent is XRP, 16.58 percent is ETH, 3.87 percent is LTC, and 2.96 percent is BCH.

Since launching during the last week of November 2018, Amun reports that the HODL index has gained 1,113 percent. On its first day of trading, the index generated $ 400,000 worth of trade.

SIX to Launch Exchange Incorporating Distributed Ledger Technology

At the start of February, SIX chairman Romeo Lacher announced SIX’s intention to launch a new exchange underpinned by blockchain technology during the second half of 2019.

Swiss Stock Exchange Launches Trading for ETH ETP

The exchange, dubbed the SIX Digital Exchange (SDX), is expected to initially run parallel to SIX’s legacy exchange platform. By incorporating distributed ledger technology, transactions on SDX only require a single step and can be completed in less than one second, whereas the legacy platform requires three processes that can take up to several days to finish. Lacher also stated the exchange is hoping to conduct a security token offering.

Do you think that Amun’s ETH ETP will be able to attract significant liquidity? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Swiss Stock Exchange Launches Trading for ETH ETP appeared first on Bitcoin News.

Bitcoin News

In the Daily: Fidelity Investments, London Stock Exchange Group, Sofi

February 28, 2019 |

In this edition of The Daily we feature a number of traditional financial companies that are stepping into the crypto assets world. Fidelity Investments backs Coin Metrics, London Stock Exchange Group funds tokenization platform Nivaura and Sofi is set to add crypto support.

Also Read: Top Business School in India to Offer Advanced Blockchain Program for Professionals

Fidelity Investments Backs Coin Metrics

Coin Metrics Inc, a provider of crypto market and network data, has announced it closed a $ 1.9 million seed round of venture funding. The financing came from Fidelity Investments, Highland Capital Partners and Dragonfly Capital, with Castle Island Ventures leading the round. “All of our investors are bought into the idea that the next phase of cryptoasset investing requires robust comprehensive data and infrastructure. Having this premier group as investors is a great vote of confidence,” said Tim Rice, CEO of Coin Metrics.

The Fidelity Digital Assets team explained in a Medium post about the matter that good data sets are critical factors in the ability to analyze trends, visualize the growth of networks, and spot challenges, adding that many of the institutional investors they talk with also require a clear understanding of which data to consider as they explore crypto assets.

LSEG Funds Tokenization Platform

London Stock Exchange Group (LSEG) has revealed it led a $ 20 million strategic investment round in the tokenisation platform Nivaura. The startup’s focus is on the deployment of digital investment banking solutions for banks, exchanges and other financial institutions. LSEG’s head of international development told Reuters that the group was seeking to leverage the technology to develop new products, boost efficiency and support growth.

In the Daily: Fidelity Investments, London Stock Exchange Group, Sofi

Nivaura automates the issuance and administration of instruments such bonds, loans, equity, and structured products, which the company claims can reduce time to market by as much as 60-80 percent. This new $ 20m investment is meant to allow it to expand its leadership, business development and technical teams. It also plans to enter new jurisdictions and to cover new asset classes.

$ 4 Billion Fintech Startup Sofi to Add Crypto Support

Sofi is a company valued at over $ 4 billion which is focusing on providing millennials with student loan refinancing, personal loans, mortgages and other wealth management and financial services. It is now planning to enter the crypto assets market by enabling its users to follow and buy coins via a partnership with crypto exchange Coinbase. These new features will reportedly be made available to users in the second quarter of 2019.

“Our target audience wants to see what the price of cryptocurrency is, and to buy it,” CEO Anthony Noto told reporters at Sofi’s New York office, according to CNBC. “They have a desire to do that and in many cases they already are.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


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The post In the Daily: Fidelity Investments, London Stock Exchange Group, Sofi appeared first on Bitcoin News.

Bitcoin News

Stock indexes end slightly lower after wobbly day

February 27, 2019 |

U.S. stock indexes capped a day of wobbly trading with slight losses Tuesday, erasing some of their modest gains from the day before.

The market changed course several times during the day as investors balanced conflicting U.S. economic data and testimony from Federal Reserve Chairman Jerome H….


L.A. Times – Business

GE stock jumps as $21.4-billion biopharma sale helps new CEO revamp the company

February 26, 2019 |

When H. Lawrence Culp Jr. took command of flailing General Electric Co. late last year, his mandate was simple: Be more aggressive.

Less than five months later, investors are applauding.

The company’s shares climbed Monday as Culp took his boldest step yet to rescue the troubled behemoth, agreeing…


L.A. Times – Business