In the CryptoNewsZ update from October 16, 2019, host Arveen highlights key developments in the blockchain and cryptocurrency sector. Binance, the world’s largest crypto-exchange by trading volume, has announced the launch of a dedicated exchange-traded product (ETP) for Binance Coin on Switzerland’s SIX Stock Exchange, commencing trading on October 15. This marks the world’s first physically-backed Binance Coin ETP, developed in collaboration with local start-up Amun. This news has positively affected the market, resulting in a 5% increase in BNB’s price within 24 hours.
Additionally, the trading platform eToro has unveiled a new financial instrument called The TIE – LongOnly CopyPortfolio. This initiative is driven by Twitter activity, leveraging the social media platform as a vital channel for gauging sentiment in the blockchain and crypto community. The partnership between eToro and The TIE data analysis firm underscores the growing importance of social media in the financial landscape. For further updates, viewers are encouraged to visit CryptoNewsZ’s website and subscribe to their channel for timely information.
