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A Bitcoin Cash and an Ethereum ETP are to be launched by 21Shares today, on the Deutsche Boerse "Xetra" platform, which is dominating the DAX (Frankfurt Stock Exchange) with a market share of more than 70%.
The 21Shares Ethereum ETP (AETH SW - CH0454664027) and the 21Shares Bitcoin Cash ETP (ABCH SW - CH0475552201), are fully collateralised using Coinbase as independent regulated institutional grade custodian, debuted on the Swiss stock market in mid 2019 and have a performance of 116.3 per cent and 53.0 per cent with annual management fees of 1.49 per cent and 2.50 per cent respectively.
Trading of Bitcoin Cash ETP (Exchange Traded Product) is to begin today (March 9th) along with an Ethereum ETP.
21Shares has already launched two Bitcoin ETP investing products and it was expected to expand into more cryptocurrencies, as the institutional demand for cryptocurrencies keeps increasing.
The Bitcoin Cash ETP will be available in the following German and Swiss exchanges under the following tickers.
The product is 100% collateralized and 21Shares is using the Coinbase exchange for custody of the Bitcoin Cash and Ethereum assets in cold storage.
The aftermath of the coronavirus and the instant reaction from Central Banks was the increase of money supply and an excessive quantitative easing. We expect another trillion-dollar airdrop by the FED and the US government to stimulate the ailing US economy, while probably Europe will also follow.
At the right time, a month before the third halving of miners' rewards, Bitcoin suddenly became a promising choice as the yields turned negative and the fiat currencies started weakening. Bitcoin enjoyed institutional investment for the first time of this kind. It became the most popular asset and is now standing at a total market cap of one trillion dollars.
It is the next step institutional funds are taking, by onboarding investment products like ETPs and ETFs as the exposure in risk assets is growing higher. Ethereum and Bitcoin Cash are in the top three of their lists along with Bitcoin.
Corporations like Tesla, Square, and Microstrategy are investing in Bitcoin which is the first step for wider crypto adoption and success. Established cryptocurrencies like Ethereum, Bitcoin Cash, Litecoin, and Stellar, as well as newcomers like Polkadot and Chainlink have a good chance next, as the regulatory requirements are met and the access is available for funds to invest.
Bitcoin Cash is already a Grayscale product for institutional investors, and it is already one of the PayPal coins accepted and lately also adopted by Rakuten in Japan. As Bitcoin and Ethereum fees have skyrocketed, it is very important to distinguish which cryptocurrencies can scale and which have a different agenda.