Crypto Currency News
Blockchain and traditional payment systems are compatible in the settlement of electronic securities. This was confirmed by the experiments of the Bundesbank, BaFin and Deutsche Börse. The results showed that in such systems it is possible to do without national digital currencies. Previously, the prevailing view was that they were necessary both for the tokenization of assets and cash. The test results will potentially complicate the issuance of the digital euro, for which the Bundesbank has been less than enthusiastic. Earlier, the German government approved a bill that makes fully electronic securities legitimate as part of a broader blockchain strategy.
Goldman Sachs has filed an application with the SEC to register a new investment product that tracks the data of the bitcoin ETF from ARK Innovation. This will provide the bank's clients with indirect access to the main cryptocurrency. In recent years, the US Securities and Exchange Commission has repeatedly rejected applications from many companies wishing to register a traded exchange-traded fund for bitcoin or ethereum. The regulator refers to excessive manipulations in the cryptocurrency market, because of which investors can be exposed to great risk. The Commission has not yet approved any applications for launching ETFs, while three bitcoin exchange-traded funds have already been launched in Canada this year. Therefore, the bank Goldman Sachs found a way out, deciding to introduce a product that tracks the bitcoin ETF from ARK Innovation. The bank's customers will be able to access the first cryptocurrency, but not directly, but indirectly. This is another way in which the investment bank Goldman Sachs is trying to introduce work with digital assets, as the bank's management recently announced the increased interest of its customers in bitcoin.
In my forecast, I expect a further rollback of Bitcoin to the level of $ 51,750. Ethereum will decline to the level of $ 1,550, and Ripple - to $ 0.48.