This is the 16th post for the weekly series on the state of securities with a focus on fintech, Bitcoin, blockchains & distributed ledgers.
Here are some of the key developments, stories & updates from the digital securities industry over the past week.
“Silicon Valley Coin by Andra Capital Uses Tezos Blockchain and TokenSoft for Its Security Token Offering”
Earlier this week, Andra Capital announced their Silicon Valley Coin which will launch via a Security Token Offering built on the Tezos blockchain and using Tokensoft’s issuance platform. Investors will be able to invest in the fund in the traditional way, but what makes this unique is there will be an option to accept a blockchain-based token, the Silicon Valley Coin. About the development, the President of TQ Tezos stated, “We are thrilled to see venture capital firms embrace digital securities, which allow them to easily and compliantly offer global investors access to a historically exclusive asset class.” This coin will become a tradeable security token leveraging the benefits of blockchain technology to allow for increased efficiency. Yahoo Finance article about this development by Andra Capital in the digital securities industry.
“Grayscale Bitcoin Trust Becomes SEC Reporting Company”
Grayscale Bitcoin trust has announced that they have filed a Form 10 with the SEC to officially become an SEC reporting company. “The Trust is solely and passively invested in Bitcoin, enabling investors to gain exposure to Bitcoin in the form of a security while avoiding the challenges of buying, storing, and safekeeping Bitcoin directly. Now, it is also the first digital currency investment vehicle to attain the status of an SEC reporting company.” With this announcement, moving forward the Grayscale Bitcoin trust will need to file its quarterly and annual reports, as well as audited financial statements with the SEC. Accredited investors seeking to invest money in bitcoin as a security will be able to take advantage of this service provided by Grayscale . Here’s a link to the Yahoo Finance article explaining this announcement by Grayscale in more detail.
“Amun Launches New Bitcoin Exchange-Traded Product On Swiss Exchange”
Amun AG has launched an Exchange-Traded product (ETP) on Switzerland’s SIX Exchange. As outlined in the article, “This latest launch is the 21Shares Short Bitcoin ETP that claims to track the opposite performance of bitcoin and is another way to gain exposure in both directions of the bitcoin price movements.” An ETP is a type of security with a value derived from other investment vehicles such as currencies or other commodities aiming to replicate the performance of a certain market. Examples of these ETPs would be Exchange Traded Funds (ETFs), Exchange Traded Commodities (ETCs) and Exchange Traded Notes (ETNs). Switzerland has been known to be a country that is very accepting of the benefits of blockchain technology and this is another prime example of that. Here’s a link to the Yahoo Finance article which explains in additional detail this launch by Amun AG on the Swiss SIX Exchange.
That’s all for this week, check back in next week to learn all about what’s happening in the rapidly evolving digital securities industry! Feel free to leave any comments below & if you’re interested in following this weekly roundup be sure to click on “Notify me of new posts by email” underneath the comments box below to receive an alert for each new post.