Point Roberts, WA and Delta, BC – October 12, 2020 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.
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Crypto Corner Episode 462: Hut 8 (TSX: HUT) is First to Complete TSX Sandbox Program, and Grayscale ETH Trust (OTC: ETHE) Becomes SEC Reporting Company
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Stocks discussed: (NYSE:SQ) (NYSE:CP) (TSX:HUT) (OTC:ETHE) (OTC:GBTC)
Bitcoin (BTC) has continued its rally from last week – the beginning of which was widely attributed to news that Square (NYSE:SQ) had purchased $50 million worth of Bitcoin – and has seen an uptick this morning to a present trading price of about $11,470, according to data from CoinMarketCap. Bitcoin had entered the rally with a trading price of around $10,600 last Thursday.
Canadian Pacific Railway Limited (NYSE:CP) has recently joined blockchain-based shipping platform TradeLens. According to the press release, the TradeLens open-API platform “will help CP intermodal shippers create, amend and share documents with other supply chain participants, including consignees, beneficial cargo owners, customs agencies, dray operators and steamship lines.” Mike Redeker, CP’s Vice-President and Chief Information Officer, commented:
“CP is pleased to join TradeLens as part of its efforts to improve the customer experience through technological innovation. Global shipping is a profoundly complex business and TradeLens is improving the information-sharing processes that support the industry. CP is always innovating for the benefit of its customers, and joining TradeLens is an example of that innovation.”
Hut 8 Mining Corp. (TSX:HUT) has announced that it is the first TSX listed issuer to complete the TSX Sandbox program, coming just one year after it became the first issuer to be listed to the TSX via the TSX Sandbox. The company’s Interim CEO, Jimmy Vaiopoulos, said:
“We’re excited to work alongside the TSX to find innovative paths forward in the public markets for emerging industries such as the blockchain and bitcoin mining space. Being listed on the TSX holds Hut 8 to the highest standard of governance and disclosure requirements which directly benefits our investors.”
Digital currency asset manager Grayscale Investments has reported that its Grayscale Ethereum Trust (OTC:ETHE) has become a reporting company for the U.S. Securities and Exchanges Commission (SEC). This follows news from January this year, that the company’s bitcoin trust, Grayscale Bitcoin Trust (OTC:GBTC), had become an SEC reporting company. A report from CoinDesk quotes Grayscale’s managing director, Michael Sonnenshein on the news:
“We’re seeing interest from investors who have become more comfortable with digital currencies through bitcoin exposure, and are now looking at how else they can diversify within the asset class.”
Sam Mowers, Investorideas
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Read More: Crypto Corner Episode 462: Hut 8 (TSX: HUT) is First to Complete TSX Sandbox