The tides are turning in the cryptocurrency world, with institutional investors making a big splash in Bitcoin exchange-traded funds (ETFs) while retail investors seem content to bob on the sidelines. A recent report by IntotheBlock paints a picture of a two-tiered market, where hedge funds and even pensions are accumulating Bitcoin through ETFs, but the […]
In a notable development highlighting the increasing interest of traditional financial institutions in Bitcoin (BTC), Wells Fargo, the third-largest bank in the United States, has revealed its exposure to spot Bitcoin ETFs. The US Securities and Exchange Commission (SEC) approved the regulated index funds in January, allowing institutions like Wells Fargo to invest in the largest […]
Lower-than-expected inflation data and a dominant Bitcoin have sparked a cautious return to crypto investment, with the US leading the charge. However, whispers of regulatory scrutiny cast a shadow over Ethereum, leading to outflows for the world’s second-largest cryptocurrency. Related Reading: Pump Fun Implodes: Ex-Employee Turned Hacker Exposes Alleged Shady Practices CoinShares, a leading digital […]
According to records, China has divested $53.3 billion in U.S. Treasury notes and agency bonds during the first quarter. Some analysts suggest this reduction in foreign exchange reserves might be China’s strategic move to leverage its holdings against the United States. China’s Treasury Holdings Drop Dramatically, Raising Red Flags for U.S. Markets China has significantly […]
The House Committee on Rules has decided to review the Financial Innovation and Technology for the 21st Century (FIT21) Act, paving the way for a floor vote later this month. The legislation sets a path for enhanced regulatory clarity in the U.S. crypto ecosystem, balancing robust consumer protections with the needs of a burgeoning digital […]
Bitcoin topped $70,000 for a time on Monday. At one point, it was $3,931 higher than its previous close and 82.3% higher than its 2024 low, which it reached on Jan. 23, Reuters reported Monday (May 20). The report attributed the rise in part to this year’s approval and launch of spot bitcoin exchange-traded funds (ETFs), which […]
By Beiyi Seow The United States is hiking tariffs on US$18 billion worth of imports from China, targeting strategic sectors like electric vehicles, batteries, steel and critical minerals, the White House said Tuesday. The decision comes as President Joe Biden gears up for a re-run of his 2020 contest with Republican rival Donald Trump in […]
Wells Fargo, a major US banking entity, is now storing a spot bitcoin ETF for its customers, as revealed in a new SEC filing, holding 2,245 shares of the Grayscale Bitcoin Trust (GBTC), which was recently converted into an ETF. Though the value of these shares stands at $121,207, a small fraction of the bank’s […]
According to a recent earnings filing, Edmond de Rothschild Holding S.A., a private banking and asset management entity linked with the distinguished Rothschild banking family from France, holds shares in Grayscale’s GBTC and Blackrock’s IBIT. Edmond de Rothschild Holding’s 13F Filing Reveals Investment in Grayscale and Blackrock Bitcoin ETFs For years now, speculative discussions on […]
Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), has amassed 414 insitutional holders in less than three months, according to filings with the U.S. Securities and Exchange Commission (SEC). A senior Bloomberg analyst described this achievement as “mind-boggling” and “highly rare” for new ETFs. Other recently launched ETFs have significantly fewer institutional […]
Salim Ramji, the new CEO of Vanguard and former head of Blackrock’s global ETF business, has affirmed the company’s position against launching a spot bitcoin exchange-traded fund (ETF), emphasizing the need for consistency with Vanguard’s investment philosophy that views crypto as a speculative and immature asset class. Despite Ramji’s prior involvement in launching Blackrock’s successful […]
Top cryptocurrencies of the market lifted upward Monday, spurred by top banks' disclosure of investments in spot Bitcoin ETFs, and a social media post by retail trader "Roaring Kitty" that sent meme coins flying. read more