European ETF issuer VanEck has announced the launch of a bitcoin exchange-traded-note (ETN) on the Deutsche Böerse. The ETN will launch on the electronic trading venue of Europe’s third-largest exchange, Xetra.

Coinbase CEO Brian Armstrong has revealed the firm heard rumors that the U.S. Treasury Department plans on tracking owners of self-hosted cryptocurrency wallets with a set of data-collection requirements.

Grayscale’s Bitcoin Cash and Litecoin funds are currently trading at premiums of over 1,000% compared to the value of their underlying assets.

Sponsored: The well-respected crypto data and education platform Cointelligence has recently released their first book. The Cointelligence Guide to Decentralized Finance (DeFi) looks at the current state of the DeFi industry, and considers the exciting possibilities for the future of this field.

Top stories in the Crypto Roundup today:

• VanEck Launches Physically-Backed Bitcoin ETN on Deutsche Böerse
• U.S. Treasury May Push Burdensome Crypto Wallet Rules, Says Coinbase CEO
• Grayscale’s Bitcoin Cash and Litecoin Funds Are Trading at Over 1,000% Premiums
• Sponsored: Available Now: The Cointelligence Guide to Decentralized Finance (DeFi)

VanEck Launches Physically-Backed Bitcoin ETN on Deutsche Böerse

European ETF issuer VanEck has announced the launch of a bitcoin exchange-traded-note (ETN) on the Deutsche Böerse. The ETN will launch on the electronic trading venue of Europe’s third-largest exchange, Xetra.

The VanEck Vectors Bitcoin ETN (VBTC) will have a total expense ratio (TER) of 2% and is set to be fully replicated. VanEck reportedly partnered with Bank Frick, a crypto custodian regulated in Liechtenstein, to hold the underlying BTC in cold storage.

The Bitcoin ETN Uses MV Index Solutions’ MVIS CryptoCompare Bitocin VWAP Close Index (MVBTCV) as its underlying index to track the price of the flagship cryptocurrency. MVBTCV is a rules-based index that covers the broadest CCCAGG pricing for indices provided by CryptoCompare.

The ETN gives investors exposure to the flagship cryptocurrency, without having to create a wallet and manage its private keys. It’s fully-backed and professionally managed by VanEck.

U.S. Treasury May Push Burdensome Crypto Wallet Rules, Says Coinbase CEO

Coinbase CEO Brian Armstrong has revealed the firm heard rumors that the U.S. Treasury Department plans on tracking owners of self-hosted cryptocurrency wallets with a set of data-collection requirements.

If the rumors are to be confirmed, Treasury Secretary Steve Mnuchin is preparing to clamp down on individuals hosting their own cryptocurrency wallets. Armstrong wrote:

“This proposed regulation would, we think, require financial institutions like Coinbase to verify the recipient/owner of the self-hosted wallet, collecting identifying information on that party before a withdrawal could be sent to that self-hosted wallet.”

Such regulations would require corporations to know every counterparty to their users’ crypto transactions, forcing them to keep logs and track movements even before transactions take place. Per Armstrong, such regulation “would be a terrible legacy and have long-standing negative impacts for the U.S.” He added it would “kill many of the emerging use cases for crypto.”

Grayscale’s Bitcoin Cash and Litecoin Funds Are Trading at Over 1,000% Premiums

Grayscale’s Bitcoin Cash and Litecoin funds are currently trading at premiums of over 1,000% compared to the value of their underlying assets.

According to market performance data, Grayscale’s bitcoin Cash Trust, BCHG,is trading at $37.9 per share, while its underlying bitcoin cash (BCH) holdings are worth around $3.19. That’s a premium of over 1,100%.

Similarly, Grayscale’s Litecoin Trust (LTCN) is trading at over $500 per share, while its underlying LTC holdings per share are worth little over $8, which means the trust is trading at a premium of well over 5,000%.

These products are traded on over-the-counter markets and the premium creates an opportunity for players to capture the spread between the price and the net asset value. Grayscale’s most popular products, GBTC and ETHE, also often trade at a premium.

CryptoCompare Launches Decentralized Finance Token List

Decentralized Finance (DeFi) has taken the cryptocurrency space by storm, growing from around $670 million in total value locked in early December of last year to around $14.3 billion today.

Several leading projects in the DeFi space - including Maker, Compound, Aave, Uniswap, Curve, and Yearn.Finance - have launched their own tokens and these are trading on leading cryptoasset exchanges. 

To help keep you up to date with the DeFi market, CryptoCompare has launched a list of tokens associated with the DeFi space and its projects. Using the list of nearly 100 tokens - and growing - you can keep tabs on DeFi projects.

The DeFi coin list can be accessed by toggling the coinlist from all Cryptocurrencies to DeFi.

Available Now: The Cointelligence Guide to Decentralized Finance (DeFi)

The well-respected crypto data and education platform Cointelligence has recently released their first book. The Cointelligence Guide to Decentralized Finance (DeFi) looks at the current state of the DeFi industry, and considers the exciting possibilities for the future of this field.

Written by Cointelligence CEO On Yavin and Chief Editor AJ Reardon, this book continues Cointelligence’s tradition of producing well-researched educational guides that provide a brand-neutral overview of the subject.

Learn all about DeFi

The Cointelligence Guide to Decentralized Finance (DeFi) will not only teach readers about DeFi, but it also explains foundational concepts necessary to understand DeFi. Readers will find an overview of Ethereum, smart contracts, and oracle networks to help them understand how DeFi dapps work. They’ll find a history of the evolution of digital finance, showing how the industry has arrived where it is today. And they will learn about DeFi solutions for payments, exchanges, insurance, and more.

This book was written for anyone who is interested in DeFi, including but not limited to: students, educators, developers, investors, newcomers to the crypto industry, and anyone working in the financial services, high tech, law, and real estate industries in any capacity, whether at a startup or a long-established institution. 

Available in a Variety of Formats

The Cointelligence Guide to Decentralized Finance (DeFi) is available on many major ebook networks, including Google Play and Amazon, as well as a direct-download PDF from Cointelligence’s website. The goal is to make the book accessible to a variety of readers no matter what platform they prefer to use for their ebooks.

Continual support and community engagement is available in Cointelligence’s Telegram chat; if readers have any questions about any of the topics covered in the book, or anything else about DeFi, the books authors and other members of the crypto community can provide answers and conversation about this growing industry.

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