Blockchain Bites: Bitcoin Trades Sideways as US Inflation Is Muted

Blockchain Bites: Bitcoin Trades Sideways as US Inflation Is Muted


Hello. Analysts are reporting gloomy short-term projections for bitcoin as the U.S. Labor Department reports muted inflation over 2020. Here’s the story:

Top shelf

Institutional products
A new, physically backed bitcoin exchange-traded product (ETP) has hit the SIX stock exchange in Switzerland. Developed by ETC Group, this is the 34th bitcoin ETP on SIX. Meanwhile, the Winklevoss-owned Gemini Trust company is backing the latest bitcoin exchange-traded fund (ETF) application filed in Canada. Arxnovum Investments’ bitcoin ETF could conceivably trade on the Chicago Mercantile Exchange, if approved. U.S. regulators have long been skeptical of these “high risk” investment vehicles, which many point to as hampering institutional interest (by the way, check out Blockwork’s new editorial site).

Stopping bitcoin ‘funny business’…
European Central Bank (ECB) President Christine Lagarde has called for bitcoin to be regulated at the international level, during a Reuters event. The “highly speculative asset” has led to “some reprehensible activity,” including money laundering, and any

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