Investors looking for exposure to emerging markets FX have limited options, with most EM indices offering exposure (currency hedged or otherwise) to local equity and bond markets. They will soon have the opportunity to invest directly in EM FX markets, however as T3Index is set to launch its E8 index, which it says it a first of its kind as it measures the performance of the world’s eight largest emerging market exchange rates. T3Index is a research driven financial indexing firm that specialises in derivatives benchmarking and the development of investible, proprietary indices that track related strategies across a range of asset classes.
Galen Stops looks at why demand for cryptoassets has skyrocketed in 2017 and assesses whether they have any future in mainstream financial markets.
The first working implementation of a blockchain that the world had ever seen was in the Bitcoin software released in 2009. Bitcoin the cryptocurrency then rose to prominence in 2013 when, driven in part by a flurry of media attention, its value rose past $1,000 for the first time.
Following that, 2014 represented a long and painful year of price decline for Bitcoin as an asset, but it continued to garner a lot of attention, not always for good reasons. Then in 2015 the narrative began to change as people really started talking about the potential applications of blockchain technology distinct from any digital assets.
Last week the Securities and Exchange Commission (SEC) declined to approve rule amendments proposed by NYSE Arca and Cboe BZX Exchange to authorise the listing and trading of shares of nine exchange-traded funds (ETFs).
This decision comes after the SEC also rejected the Winklevloss ETF in July that would have traded physical bitcoin, whereas the ones rejected last week planned to seek exposure to some or all of the bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME), Cboe Futures Exchange (CFE) and/or any other US exchange that subsequently trades such derivatives contracts.