CoinShares Sets Sights on Wall Street: Will the $1.2B Nasdaq Debut Redefine C...
CoinShares, Europe’s largest digital asset manager with approximately $10 billion in assets under management, has announced plans to go public in the United States through a $1.2 billion merger with Vine Hill Capital, a Nasdaq-listed special purpose acquisition company (SPAC). Related Reading: XRP Price Confirms Descending Trendline Breakout, Here Are The Targets The transaction would […]
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Recently, Wall Street companies have become increasingly interested in Bitcoin’s technology. One of these companies is Nasdaq OMX Group Inc.; this week Nasdaw announced a partnership with Cain — a new San Francisco-based startup — for a “Pilot Test Program” to test trading private company shares with the blockchain. Bob Greifeld, CEO of Nasdaq, stated: ”We are excited about the potential impact of this new endeavor with Chain on the transaction process. As Blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole,....
Nasdaq OMX Group Inc is reportedly exploring how a blockchain-based solution could change the way shares are transferred and sold manually. The company will trial the technology in Nasdaq Private Market, a capital marketplace launched in January 2014, which sets out to connect private companies and global investors, allowing the latter to purchase shares which may eventually go public before they do so. Nasdaq chief executive Robert Greifeld told The Wall Street Journal:
Wall Street has been embracing the latest wave of Silicon Valley financial tech at a fast rate. Over the past several months, many Wall Street Financial companies have embraced the new wave fintech enterprises with remarkable speed. The blockchain an online ledger that tracks the movement of digital currency, but it can also be used to manage, register and secure anything else that has value. Wall Street companies seem to have seen the true potential of the blockchain technology and many are now rushing to invest and develop new applications with this new technology. Jamie Dimon, JP Morgan....
The previous big launches of Bitcoin-related products on Wall Street were followed by multi-month price slumps. Wall Street opened its doors for the first Bitcoin (BTC) exchange-traded fund (ETF) on Oct. 19, with the listing of ProShares Bitcoin Strategy (BITO) on the New York Stock Exchange. The fund attracted more than $1 billion in trading volume on its first day, while BTC price rallied to a new record high of $67,000.But the spot gains did not stay for too long with BTC paring some gains going into the weekend.Bitcoin price corrected by almost 11% from its all-time high to reach....
Although Bitcoin has not yet reached Wall Street, its underlying blockchain technology will soon be right in the middle of the action. NASDAQ OMX, the company behind the NASDAQ stock exchange, revealed that it is testing a system that uses blockchain technology to oversee stock trades on a separate market solely for private companies. The reasoning behind the idea of using the blockchain without Bitcoin holds that the cryptocurrency is too flawed to replace existing currencies. However, even though Bitcoin is questionable, adherents of this idea admit that blockchain technology can....