OKCoin International’s coin price is included in the US SOLIDX ETF index

On July 12, 2016, the US technology company SolidX Partners submitted an application to the US Securities and Exchange Commission. SolidX Bitcoin Trust is a real-time reference exchange rate for calculating the US dollar against Bitcoin. It refers to the price data of some compliant Bitcoin trading platforms when calculating. The specific reference Bitcoin trading platforms are: OKCoin International Station, Bitfinex, Bitstamp, Coinbase. SolidX pointed out that the ETF product will be called SolidX Bitcoin Trust, and has submitted an application for listing, with the stock code XBTC.

Image courtesy of www.okcoin.cn

OKCoin International is a global virtual currency trading platform. It has some of the same investors as OKCoin China, but is independent of OKCoin China and is operated by OKex Fintech Company Limited. OKCoin International and OKCoin China have different operating entities and different account systems. OKCoin International supports USD and contract transactions, has users from more than 100 countries, and ranks among the top five in the world in terms of transaction volume, with contract transactions accounting for more than 90% of the market share.

OKCoin China is the leading Bitcoin trading platform in China. It was launched in October 2013 and its trading volume reached 8 billion in November. In 2013, OKCoin created a daily trading volume of 3 million Bitcoins and 80 million Litecoins, which was the highest record of global digital currency trading platforms at that time. In 2015, OKCoin created a daily trading volume of 1.64 million Bitcoins and 300 million Litecoins.

SolidX is the second company to file an application with the US regulator to list a Bitcoin ETF. Three years ago, brothers Cameron and Tyler Winklevoss filed for the listing of Winklevoss Bitcoin Trust. Last month, the Winklevoss brothers suggested transferring the listing location from Nasdaq Markets to BATS Global Markets. If successful, Winklevoss Bitcoin Trust will be the first Bitcoin ETF issued by a US company.

In an SEC filing, SolidX said it would provide investors with daily changes in the dollar price of bitcoin. The value of bitcoin will be based on financial services company XBX, which mainly provides digital currency blockchain data mining and research analysis.

The exact size of the offering has not been disclosed, but the company said in the filing that it will issue 10,000 shares. Mellon Bank of New York is the cash custodian for SolidX Bitcoin Trust, while SolidX Partners will be responsible for the ETF's holdings.

Recently, Bitcoin has returned to everyone's attention. From the General Principles of Civil Law further confirming the legal status of Bitcoin and recognizing virtual currency as legal property, to the Citibank report stating that Bitcoin is a supplement to banks rather than a challenge, to the blockchain technology behind it attracting the attention of US President Hillary Clinton.