Blockchain
Bitget Will Officially Launch ETF Spot Product
Victoria, Seychelles–(Newsfile Corp. – March 21, 2023) – Bitget is proud to announce the launch of spot ETF products on its platform. Users can trade these new products on both Bitget’s web and app.
What are spot ETF products?
Bitget spot ETFs are composed of a bundle of cryptocurrencies that are representative of popular sectors. There is typically a correlation between these currencies which can reflect changes in the market conditions, their class of assets, or sector. Spot ETFs let users understand the direction of the market more clearly, and reduce exposure to any one asset by diversifying the portfolio. Trading spot ETFs can give investors a simpler and more intuitive trading experience, reducing the time and resources spent analyzing hundreds of thousands of coins and tokens in the industry.
Spot ETFs inherit most of the usual functions and rules of any spot product traded on Bitget’s platform. However, unlike other spot products, Bitget’s spot ETFs can only be traded on the Bitget platform and exchange. As such, users won’t be able to deposit, withdraw or transfer Bitget spot ETFs from Bitget.
Introducing ARBETF
The first phase of Bitget’s spot ETFs starts with the much-anticipated ARBETF product. ARBETF is designed to track the price trends of popular assets within the Arbitrum ecosystem, letting users quickly access these tokens and capitalize on Arbitrum’s market sector changes against the general cryptocurrency market. ARBETF is currently composed of four currencies, including GMX (40%), MAGIC (30%), RDNT (5%), and GNS (25%), with varying weight allocations proportional to their market caps. In the future, in line with the development of the Arbitrum ecosystem, the ARBETF composition and weighting will be adjusted in real-time.
Trade spot ETFs
A note on settlements
Traders can sell and settle their spot ETFs at any time. To protect the rights of users that hold spot ETFs, the platform will provide sufficient liquidity for the ETFs in stablecoin. For spot ETFs about to be delisted, traders can exchange the ETF for stablecoin. It’s also possible to hold the spot ETF until it’s delisted. When it’s taken off the shelf, Bitget will automatically settle any spot ETFs held by the user. The settlement formula is the arithmetic average of the transaction price one hour before delisting.
For example, if XXETF/USDT is delisted on December 31, 2023, at 6 PM (UTC+8), users who have yet to sell their XXETF will have the sale automatically carried out between 5 PM and 6 PM (UTC+8). The arithmetic average of the transaction price that occurred within the hour is used to obtain the price for all ETF settlements.
Overall, spot ETFs at Bitget will have sufficient security guarantees, with the guarantee that they can be converted into stablecoin for users to ultimately deposit, transfer or withdraw.
Disclaimer: The information provided here pertaining to any cryptocurrency is for general informational purposes only and is not an offer to sell or a solicitation of an offer to buy any cryptocurrency, and should not be construed as any offering documents of any kind. The information above should not be relied upon as advice to buy or sell or hold any cryptocurrency and should not be considered as any investment advice or opinion. Bitget makes no representation or warranties, expressed or implied, as to the accuracy of the information. Bitget expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. Trading in cryptocurrency is a high-risk investment which involves substantial risk, including but not limited to market risks, cybersecurity risks, liquidity risks, regulatory risks, etc. Investors are recommended to consult their own advisors before investing.
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Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
The post UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System appeared first on News, Events, Advertising Options.
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