Boerse Stuttgart Group
A very good example of the increased acceptance of cryptocurrency is the recent announcement by the Boerse Stuttgart Group, the second largest stock exchange in Germany that they will offer Ethereum and Bitcoin on their exchange in the first half of 2019.
According to the article:
Boerse Stuttgart is a floor-based exchange in Europe with trading across asset classes such as stocks, derivatives, bonds, exchange traded funds, and soon digital assets. With a trading volume of EUR 81 billion (USD 93.87 billion) across all asset classes in 2017, Boerse Stuttgart is ranked tenth among European exchanges<
This is an amazing event. Here we are in the middle of a severe bear market, which is frequently referred to as “ Crypto winter” with coins and projects seemingly dying all around us. But there are constant news stories to suggest that cryptocurrency will experience the rebirth of spring next year and the bear market will end and bull market will follow. This indeed seems to be the nature of all investment markets. What goes up will come down, and what goes down frequently goes back up.
https://cryptonews.com/news/good-news-major-stock-exchange-operator-to-offer-btc-eth-in-3076.htm
Fidelity Investments, which is estimated to be the fourth largest asset manager in the USA, with an estimated to manage investments worth 7.2 trillion dollars USD, 7.2 has announced that it is launching a new company aimed at financial institutions that want to trade and store digital assets. The company will be named Fidelity Digital Assets, and it will offer offline cold storage for digital currency, described in offerings as >offline, vaulted deep-cold storage.<
Fidelity is a company with over 70 years of experience in financial services. The new company Fidelity Digital Assets is already said to employ over 100 people, and is reportedly being led by Tom Jessup, formerly managing Director at Goldman Sachs.
https://cryptonews.com/news/huge-news-top-investor-makes-a-splash-crypto-fund-s-ipo-live-2776.htm
The Nasdaq is the second-largest stock exchange in the world in terms of market capitalization.
In this article, Adena Friedman, the CEO of NasDaq, says wants to lead the fight against market manipulation and fraud that has been plaguing the cryptocurrency market. But not only is the CEO of NasDaq talking about doing this, we find out in thIn fact, a few exchange platforms are already adopting the NasDaq exchange operator’s market surveillance technology. Gemini, SBI Virtual Currencies, and three other platforms were already using Nasdaq’s SMARTS technology.
Article number 1: https://bitcoinist.com/nasdaq-crypto-fraud-manipulation/
Next I read the analysis by NasDaq on fraud in the cryptocurrency markets. Nasdaq plans to use its SMARTS software to monitor the Gemini platform to prevent fraud and manipulation. The NasDaq has also signed a deal with the San Diego-based ETF firm, Reality Shares, which plans to launch a pair of blockchain-related funds before the end of June.
Next I read an article in which the author quotes Adena Friedman, the CEO of Nasdaq saying the company is interested in becoming a cryptocurrency exchange platform. Nasdaq is the second-largest stock exchange in the world in terms of market capitalization. That would result in a lot of publicity for cryptocurrency and invariably lead to increased investment by the public.
https://bitcoinist.com/nasdaq-eyes-becoming-a-cryptocurrency-exchange-platform/
Finally, another article suggesting that not only is big money coming to cryptocurrency, but firms that evaluate investments that these big financial institutions invest. Weiss Company now evaluating cryptocurrencies and rating them as investments.
The Weiss company was founded in 1971 is an independent rating company for investments such as stocks, ETFs, mutual funds, insurance companies, banks, credit unions, and cryptocurrencies. It rates investments according to this scale: “A = excellent; B = good; C = fair; D = weak; [and] E = very weak. I am happy to report that out of 93 cryptocurrencies ranked by Weiss only 14 received a Rank of “B” and Steem was one of those fourteen and received the highest ranking in the group a “B”. I also noted that out of 93 cryptocurrencies none received an “A, A- or B+ rating, but 14 cryptocurrencies received the “B” rating and one of those fourteen was Steem!.
No cryptocurrency on the list has received an A or a B+ rating. Overall, fourteen coins were rated B or B-. ADA, DCR, EOS were rated B, whereas BTC, ETH, BTS, IOTA, ONT, NEO, XRP, STEEM, TRX, XLM, and ZIL were rated B-.
54 cryptocurrencies were rated either C, C+ or C-. They include BCH, DASH, DOGE, ETC, LSK, LTC, XMR, XEM, QTUM, SC, STRAT, UBQ, VEN, WAVES, and ZEC.
https://news.bitcoin.com/weiss-ratings-complete-list-cryptocurrency-ratings/
I think these developments are good signs for people invested in cryptocurrency for the long run. What do you think?
✍🏼 Written by @shortsegments