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Top 4 Cryptocurrency-related Exchange-Traded Notes in 2018

Investors eyeing the cryptocurrency markets are looking for convenient ways to enter the industry. Buying cryptocurrencies from exchanges is the least preferable option in this regard. Exchange-traded notes pertaining to Bitcoin and Ethereum are slowly gaining traction. The following four products are worth keeping an eye on, even though the SEC is seemingly cracking down on the USD counterparts.

#4 Ether Tracker Euro

XBT Provider has been introducing numerous exchange-traded notes linked to Bitcoin and Ethereum over the years. The Ether Tracker Euro offers Ethereum exposure to cryptocurrency traders through the Nasdaq Stockholm platform. It is a great way for Europeans to get effectively introduced to Ethereum as a cryptocurrency without using crypto trading platforms. There are 20 million total shares created.

Similar to the actual cryptocurrencies, exchange-traded notes linked to either Bitcoin or Ethereum will be undergoing fluctuations based on the regular market conditions. For EtherTracker Euro, its year-to-date value has declined by roughly 60%, which is in line with Ethereum’s price struggles throughout most of 2018. It is something potential investors need to be aware of at all times.

#3 Ether Tracker One

Introduced in 2017 by XBT Provider, Ether Tracker One is very similar to its EUR counterpart. However, it is linked to the performance of Ethereum in the USD market. That still makes it appealing to investors all over the world, as ETH/USD is the cryptocurrency’s most liquid market. With 200 million shares to explore, it is also in slightly higher demand overall. It too has lost more than 60% in value over the past year.

#2 Bitcoin Tracker Euro

It is only normal exchange-traded note providers such as XBT Provider explore options in the Bitcoin world first and foremost. In fact, the firm was rather early in terms of jumping on this bandwagon, as the Bitcoin Tracker One ETN dates back to 2015. It is also found on the Nasdaq Stockholm exchange, similar to all other exchange-traded notes on this list.

In the case of Bitcoin Tracker Euro, it is linked to the current exposure of BTC/USD, but is denominated in EUR value. A total of 2.1m shares are created, and traders need to take the conversion from USD to EUR into account when using this particular investment vehicle. It has lost nearly 50% in value compared to a year ago, although no one will be surprised by that particular development at this time.

#1 Bitcoin Tracker One

Very similar to Bitcoin Tracker Euro, the Bitcoin Tracker One ETN does not invoke a conversion fee from USD to EUR. There are 20 million shares available at this time, yet it has also lost a bit more value over the past year. With a near 60% loss over the past 365 days, it is evident now may be a good time to pick up this ETN at the lower price.

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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