Just $40,000 of ETF-like product issued in 3 days – September 10

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $10,217

The cryptocurrency market has fallen by 1% over the last 24 hours. Bitcoin is down just over 1%, while Ethereum, XRP, and Bitcoin Cash are down closer to 0.5%. Bigger movements in the top-20 include Bitcoin SV and Monero, which are both down around 4%, and Huobi Token, which is up 4%.

Top Stories for September 9, 2019 πŸ”₯

πŸ‘‰ Just $40,000 of ETF-like product issued in 3 days

Just a few days ago, we reported that VanEck — which has been struggling to get its Bitcoin ETF approved for more than a year ago — managed to use a loophole in the law to create an ETF-like product availability to institutional investors.

Three days following its launch, a meagre $40,000 (or around 4 Bitcoin) worth of the product has been issued. It will be interesting to see whether the project picks up in interest over coming months.

πŸ‘‰ Tether to issue Yuan-pegged cryptocurrency

Tether is the organization behind USDT, a stablecoin supposedly pegged to the US dollar. Although there have been many accusations that USDT isn’t really backed by anything, it has continued to hold its value.

Now, Tether is set to launch a cryptocurrency pegged to the Chinese Yuan. The currency, CNHt, will be issued on the Ethereum network as an ERC-20 token.

πŸ‘‰ Nasdaq adds DeFi index to data feed

Decentralized Finance is a new market that aims to decentralize traditional financial products like loans and derivatives. With names such as Augur and MakerDAO, the space is quickly growing.

Nasdaq has decided to add a Decentralized Finance index to its cryptocurrency data feeds. The index will also be available on Google, Yahoo Finance, and TradingView.