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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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Cryptocurrency Trading Update: Have Crypto Markets Reached The Bottom?

FOMO Moments Markets are stagnant this Thursday; FunFair and WAX rising, Maker and Monacoin falling. There has been very little market movement over the past 24 hours. The good news is that the movement that has happened has been positive and markets have just crept back above $200 billion total capitalization. Bitcoin is up less than one percent today but that has been enough to take it over the $6,400 resistance level. BTC is currently trading at $6,405 but technical indicators suggest more selling pressure. Ethereum has dropped back by a similar amount to take it just below $210. ETH is also very bearish at the moment. Altcoins are generally mixed about half and half gaining and losing. In the top ten only EOS is in the green with gains of 2.5 percent. The rest are flat or losing a percent or two. Similar lethargy can be seen in the top twenty where most altcoins are plus or minus a percent or two at the time of writing. Nem and Dogecoin have both lost over 3% in the past day. There are a couple of big movers today but they are much further down the market cap chart. Leading the top one hundred is FunFair jumping 24% on the day, followed by Chainlink up 21%. Also performing well at the moment is WAX, Loopring, Decentraland and RChain, all climbing over 9% on the day. At the messy end of things is Maker and Monacoin dumping 8-9 percent over the past 24 hours. Total market capitalization has broken $200 billion once again and has held that level for the past 12 hours or so. Markets took a dump back down to $193 billion at 20.00 UTC+1 but immediately bounced back with an $8 billion pump to their current levels. Over the past week crypto markets have gained 3% however on the month they have dropped close to 8%. Things are still very bearish in crypto land as markets lull around their lowest levels for a year. There is hope that no further dumps could see this as the bottom and markets will slowly start to recover, however there has yet to be any strong bullish momentum to indicate this could be happening soon. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing one, looking for trends and possible fundamentals. The post Cryptocurrency Trading Update: Have Crypto Markets Reached The Bottom? appeared first on NewsBTC.

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