#CryptoCorner: Ping An's OneConnect Completes F-1 Filing for NYSE Listing, WisdomTree (NasdaqGS: WETF) Launches Bitcoin ETP on SIX, Bakkt (NYSE: ICE) Sees Record Open Interest
Point Roberts, WA and Delta, BC - December 4, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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#CryptoCorner: Ping An's OneConnect Completes F-1 Filing for NYSE Listing, WisdomTree (NasdaqGS:WETF) Launches Bitcoin ETP on SIX, Bakkt (NYSE:ICE) Sees Record Open Interest
Stocks discussed: (NasdaqGS:WETF) (NYSE:ICE)
OneConnect Financial Technology, the blockchain subsidiary of China's Ping An Insurance (HKSE:2318), has completed an F-1 filing with the U.S. Securities and Exchanges Commission (SEC) for its previously announced IPO. CoinDesk reports that OneConnect "aims to raise between $432 million and $504 million via the offering of 36 million American depositary shares (ADSs) at a price of between $12 and $14", with each ADS representing three ordinary shares. The company plans to list on the NYSE with the ticker "OCFT" on Dec. 12.
WisdomTree Investments, Inc. (NasdaqGS:WETF) has launched a physically-backed Bitcoin ETP (exchange-traded product), The WisdomTree BitcoinETP (BTCW), on the SIX Swiss stock exchange. Alexis Marinof, Head of WisdomTree Europe, commented:
"We have been monitoring cryptocurrencies for some time and are excited to bring investors secure access to this developing asset class. We have seen enough to believe that digital assets, like Bitcoin,are not a passing trend and can play a role in portfolios. WisdomTree has a history of bringing innovative investment themes to a broad market through institutional-class products, allowing investors to take exposures in difficult-to-access asset classes -we see many parallels between the cryptocurrency space and commodities in this regard. The introduction of cryptocurrencies in an ETP structure will enable investors to find new ways to introduce digital assets into portfolios while still relying on the safety and security that they have come to expect from WisdomTree."
A recent tweet indicates that Bakkt, the Bitcoin (BTC) futures arm of Intercontinental Exchange (NYSE:ICE), saw open interest reached a record high on Monday this week (Dec 2) with $6.54 million USD. This represents a 42 percent increase over the previous record high.
According to a blog post published yesterday, payments company Circle may begin charging fees to U.S. users of its crypto exchange Poloniex. As the Poloniex platform is set to spin out from Circle, customers have until December 16 to withdraw their funds or face fees and restrictions. An excerpt from the blog post reads:
There are two fees Poloniex US customers who do not withdraw their assets may be subject to: a monthly service fee while a user continues to have assets stored on the platform, and a one-time dormancy fee when an account becomes dormant per the terms of the applicable regulations. Unclaimed assets may be sent to state governments, consistent with applicable regulations.
Sam Mowers, Investorideas
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