Bit Morgan Joins Blockchain and Combines ETF to Trading Business
Conventional financial firm consortium Bit Morgan has joined blockchain and attached an exchange-traded fund (ETF) to its trading business, as stated in a press release.
In the old financial markets, ETF is as essential as an investment tool that’s famous among investors to accomplish asset appreciation. Bit Morgan created an ETF digital currency based on its characteristics, valuation, and built a comparable financial product. ETF is the “securitization of digital currencies.”
Bit Morgan created the ETF as a multi-digital currency asset that supports ethereum (ETH), bitcoin (BTC), and EOS (EOS) to assure market demand for the ETF.
Bit Morgan’s digital currency gives three benefits:
- Funding channels for institutions: Bit Morgan’s digital currency ETF introduces a massive flux of funds into the digital currency market and is anticipated to develop trends for the valuation of all digital currency concurrently, including mainstream coins like ETH and BTC. It can even observe record-breaking prices.
- Lower investment threshold for retail investors: In conventional financial markets, ETF is suitable for long-term investments. Identically, Bit Morgan’s ETF will enable the public to fund digital currencies without unnecessary entry barriers.
- Promote industry transformation: “The most important principle for digital currencies is that consensus generates value. With a huge influx of people into the market, there will be a stronger consensus to promote industrial progress. This initiative by Bit Morgan will thus progress the industry and accelerate industry transformation,” the press release read.
The trend of the digital currency market and the release of digital currency ETF are supposed to drive the accelerated growth of digital currencies. If Bit Morgan’s digital currency ETF would be victorious, it could restructure the level of trust towards digital currencies and further support its development.
Meantime, the U.S. Securities and Exchange Commissions (SEC) might consider bitcoin ETF in the prospect due to the investor and retail demands. Recently, SEC refused Wilkshire Phoenix’s application, indicating that it fails to explain that its proposal is understandable with the provisions of Exchange Act Section 6 (b)(5).
Hottest Blockchain News Daily
Get our latest news and posts in your inbox.