Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Ark Invest Files for a Bitcoin ETF

Bitcoin ETF

Ark Invest, the investment company founded by Cathie Wood, filed for approval to offer a Bitcoin ETF yesterday. 21Shares, an investment firm with experience launching related products in Europe, will help Ark to launch the product. Ark Invest is the latest of several funds showing interest in launching a Bitcoin ETF this year.

Cathie Wood’s Ark Invest Jumps on the Bitcoin ETF Bandwagon

Ark Invest, the famous asset management firm, filed for approval to launch a Bitcoin ETF yesterday. The firm, founded and managed by Cathie Wood, will partner with 21Shares, a firm with experience in this field. The proposed instrument will be called ARK 21Shares Bitcoin ETF. It will track the performance and price of Bitcoin providing exposure for regulated markets.

While the price of Bitcoin has stagnated over the last month, tech and crypto-oriented funds expect demand to pick up again. Cathie Wood is a big bitcoin proponent and much of Ark’s holdings are based in cryptocurrency companies like Coinbase and also in bitcoin itself.

Wood predicted the price of Bitcoin could reach $500,000 due to its inherent properties, while also stating this might take some time due to the emotional character of the market. In any case, she is very positive about bitcoin’s prospects for the future.

The Race Is On

Ark Invest is the latest of several companies that have filed proposals for a Bitcoin ETF just in the last year. Propelled and inspired to chase an ETF offering by the rise of the bull market were companies like Galaxy Digital, VanEck, Fidelity, SkyBridge Capital, NYDIG, WisdomTree Investments, and BitWise. However, the SEC has not approved any of these proposals and some are already being delayed.

Gary Gensler, the new Chairman of the SEC, made clear that the cryptocurrency sector needed more regulation. About cryptocurrencies, he previously stated:

This is a quite volatile, one might say highly volatile, asset class, and the investing public would benefit from more investor protection on the crypto exchanges

In light of this, experts think the possibility of having a Bitcoin ETF this year is very low. All of the problems the SEC has called out on Bitcoin are still there. Price volatility and market manipulation claims are still present. But asset managers are still trying to grasp the opportunity to be the first to offer this kind of product in America. And now Ark Invest has joined the race.

What do you think of Ark Invest’s Bitcoin ETF filing? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Earn up to 50% APY by Staking $GLQ on GraphLinq App

PRESS RELEASE. The newest utility token to offer staking to its users/holders is GraphLinq Protocol’s $GLQ. As of this article, $GLQ has 4,500+ holders according to etherscan, excluding GLQ holders on CEX like Kucoin, MXC, Gate. This is a great step for the future of the project as it will further incentivize more users to hold. Explore more about GraphLinq, its staking mechanism & steps to stake. What Is GraphLinq? GraphLinq – The No Code protocol for automating actions on-chain & off-chain, launched in just March 2021, has come a long way bringing users in the crypto space a never seen model of integrating blockchain automation on any blockchain-related/non-related task. The goal of the GraphLinq protocol is to allow users to interact blockchains with any connected system as effortlessly as possible without any prior knowledge of coding. GraphLinq ecosystem currently consists of an engine, an integrated development environment ( IDE ) & an app to provide automated...
Post a Comment
Read more

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. Surprise Gold Deposits Continue to Crack the Precious Metal’s Scarcity Proposition It has always been said that the precious metal gold (Au) is scarce, and some reports even say that gold mining on earth will end by the year 2050 . Additionally, estimates also show that there’s roughly 2,500 to 3,000 tons of new gold that is accounted for and enters into the fin...
Post a Comment
Read more

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more