Bitcoin mining agency HIVE Blockchain has obtained approval for itemizing on the Nasdaq Capital Markets change.
Bitcoin mining agency HIVE Blockchain Applied sciences has announced that it has obtained approval from Nasdaq to checklist its widespread inventory shares on Nasdaq’s Capital Markets Change.
HIVE, which first went public in 2017 on the Toronto Inventory Change (TSX), stated within the announcement that it “will retain its itemizing on the TSX Enterprise Change.” With the agency’s new itemizing on the Nasdaq, nonetheless, buyers within the U.S. may have a extra accessible avenue of investing within the bitcoin ecosystem not directly via its widespread shares.
Within the announcement, HIVE described itself as a “growth-oriented firm in an emergent business” that bridges the blockchain sector with the standard capital markets. The agency’s information facilities in Canada, Sweden and Iceland are all inexperienced energy-powered amenities for mining bitcoin and different cryptocurrencies on the cloud.
In line with the announcement, in 2020, HIVE traded over two billion shares. And HIVE seems to have adopted a HODL mentality with the BTC it mined for the reason that starting of 2021.
“Because the starting of 2021, HIVE has collected the vast majority of its … BTC coin manufacturing, which we maintain in safe storage,” per the announcement. “Our deployments present shareholders with publicity to the working margins of digital foreign money mining, in addition to a portfolio of crypto-coins resembling BTC.”
One other Institutional Rail To Bitcoin
Whereas the U.S. Securities and Change Fee (SEC) has not but permitted a bitcoin exchange-traded fund (ETF) within the U.S., buyers who don’t absolutely grasp find out how to purchase and maintain BTC themselves have resorted to a couple totally different alternate options. Institutional buyers, as an illustration, have generally invested in Grayscale’s GBTC, shares of which try to trace the bitcoin market value, minus charges and bills.
In relation to retail buyers, nonetheless, present exchange-traded alternate options are much more oblique. So, some have resorted to shares Michael Saylor’s MicroStrategy, for instance, an organization whose inventory has intently adopted the bitcoin market value since Saylor began including BTC to its steadiness sheet nonstop.
MicroStrategy’s inventory MSTR (orange) and the Bitcoin market value (blue) over the previous yr. Supply: TradingView.
An identical proxy might occur with HIVE and different publicly-listed bitcoin mining corporations for retail buyers to get some publicity to the appreciation of bitcoin’s value. However since investing in proxies isn’t the identical factor as investing in bitcoin, buyers ought to work to purchase and maintain BTC themselves as properly to take full benefit of the probabilities enabled by this new financial community.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.