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In what is a rather surprising development for the industry as a whole, the Wisconsin State Investment Board has completely sold off its entire $350 million stake in spot Bitcoin ETFs. Indeed, the US state pension fund exited its position in BlackRock’s iShares Bitcoin Trust (IBIT), according to its latest 13F filing with the US Securities and Exchange Commission (SEC). The US state had become the first of its kind to invest in the crypto-based ETF in 2024. Moreover, it had completely divested in the product in Q1 after Bitcoin plummeted more than 12%. In late 2024, the investment board had doubled its position in the asset before reversing course rapidly. Source: WSJ Also Read: Abu Dhabi’s Sovereign Wealth Fund Discloses $463M Bitcoin ETF Holdings Wisconsin Exits Bitcoin ETF Position in Major Shift After Landmark Investment in 2024 2025 has proven to be an increasingly volatile year for the cryptocurrency market. Among the most affected was Bitcoin. However, after a stark decline...

BlackRock’s IBIT spot Bitcoin ETF (exchange-traded fund) helped the funds maintain their daily inflow streak as analysts from crypto exchange Bitfinex say sell-side pressure for BTC is cooling off. Data from Farside Investors shows that IBIT recorded $596.1 million net inflows yesterday, pushing the funds’ collective net inflow streak to three days. ARKB Bitcoin ETF Suffers Over $200 Million Net Outflows Ark’s ARKB was the US spot Bitcoin ETF that posted the biggest outflows on Jan. 7, with $212.6 million withdrawn from the fund’s reserves. This was after investors poured $152.6 million into the ETF the day before. Grayscale’s GBTC registered the second biggest outflows of the day with $125.4 million being withdrawn from the fund. 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝗧𝗙 𝗙𝗹𝗼𝘄 (𝗨𝗦$ 𝗺𝗶&#12031...

Major Wall Street firms are increasingly warming up to cryptocurrency, as evidenced by their stakes in the spot Bitcoin (BTC) exchange-traded fund (ETF). Specifically, financial filings indicate that major firms have made substantial bets on BlackRock’s (NYSE: BLK) Bitcoin ETF. This shift aligns with the product’s original goal of attracting institutional capital, particularly from influential players. Key investors include Capula Management which has emerged as the largest holder with 7,419,208 units, marking a significant increase in its stake. Goldman Sachs Group (NYSE: GS), follows closely, holding 6,215,241 units, with a recent addition of 4,719,208 units. Picks for you Trading expert outlines Bitcoin's path to $300,000 2 hours ago ...

In the latest big-name transaction around Bitcoin, $130 billion asset manager Hightower has revealed it purchased $68 million worth of Spot Bitcoin ETF s. Today, Hightower disclosed the following Bitcoin ETF positions in a 13F SEC filing: Grayscale BTC: $44,838,000 (709,956 shares) Fidelity Bitcoin ETF: $12,410,000 (200,084 shares) BlackRock Bitcoin ETF: $7,621,000 (188,397 shares) ARK Bitcoin ETF: $1,702,000 (23,964 shares) Bitwise Bitcoin ETF: $988,000 (25,449 shares) Franklin Templeton Bitcoin ETF: $788,000 (19,129 shares) JUST IN: $130 billion asset manager Hightower discloses buying $68 million worth of spot # Bitcoin ETF s. — Watcher.Guru (@WatcherGuru) May 6, 2024 The diverse set of investments in Bitcoin ETF s is an interesting note, however, it only grows optimism in the world’s leading cryptocurrency nonetheless. Hightower Advisors is one of the leading RIA firms in the country. The firm helps grow financial advisory businesses and connect clients wit...

South Korea’s Financial Services Commission (FSC) is weighing a new proposal that would require crypto executives to obtain regulatory approval before taking up a role. In a document published on its official website on Feb. 5, the FSC says it is working on a set of new improvements that would require new executives of crypto businesses to obtain regulatory approval s before taking up a position. While specific details of the proposed initiative remain pending revision by the Ministry of Government Legislation, it is understood that the amendments are anticipated to come into effect by the end of Q1, 2024. This regulatory move extends beyond crypto though, reflecting the FSC’s broader aim to assert increased authority over the financial market. FSC Chair Lee Bok-hyun emphasized a commitment to cracking down on lax risk management practices, stating that authorities “will not tolerate practices of passing on risks to consumers and society by privatizing short-term pro...

Available data and expert submissions show Grayscale’s Bitcoin Trusts (GBTC) outflows are trending down, suggesting that the dumping spree may soon end. Although the outflow number is still considerably large, a rebound looks to be on the horizon for $BTC prices, and investors’ confidence is gradually returning. Galaxy Fox holders also expect a significant rally from the meme coin post-presale. The meme coin has performed impressively in its ICO phase, and observers expect more in its retail phase.  Galaxy Fox sets for retail exchange debut  Galaxy Fox is a new token on the rise. The multi-utility token aims to dominate the crypto space and yield profit for investors while at it. Galaxy Fox will be a beneficial currency in web3 space. It will play vital roles on numerous web3 platforms while overseeing everything in its ecosystem. The purchase-worthy meme coin has shown a glimpse of its profitability on presale, and many expect it to k...

Investor interest in newly launched spot Bitcoin ETFs seems to wane, as another $80 million net outflow was recorded yesterday.  According to Bloomberg reports, Bitcoin ETFs witnessed an approximately $270 million inflow on Wednesday. However, factoring in the withdrawals from Grayscale Investment’s Bitcoin ETF, the net outflow s totaled about $153 million on that day. The trend continued today with a $80 million net outflow , marking the fourth straight day of net withdrawals across these 10 funds.  These outflow s were solely from the Grayscale Bitcoin Trust (GBTC), which transitioned into an ETF following the green light from the U.S. Securities and Exchange Commission. Since its transformation into an ETF on Jan. 11, GBTC, active for over a decade, has seen approximately $4.8 billion withdrawn.  You might also like: Tokens surge double digits as Bitcoin shrugs GBTC stream Bitcoin Spot ETF Flow – Day 10 Data out for all providers $80m net outflow for day 1...

While Americans have seen the adoption of Bitcoin (BTC) spot and futures ETFs, the situation in Europe is different. Bitcoin ETFs have been a hot topic for many months, as the approval of ETFs based on actual Bitcoin in the U.S. could potentially lead to an influx of funds from Wall Street institutions, possibly pushing the price of Bitcoin to new heights. How do Bitcoin ETFs work? Like traditional ETFs, Bitcoin ETFs are issued by financial institutions that invest in Bitcoin and manage the fund on behalf of investors. A Bitcoin ETF can be structured in various ways. For example, it may hold Bitcoin futures or “physical” Bitcoin as the underlying asset, managed by the ETF issuer on behalf of the investor. Source: iShares In the case of funds with a Bitcoin base, the issuing institution buys BTC and holds it. Subsequently, it issues shares of the fund on a securities exchange, tracking the asset’s price. Investors directly own a portion of the underlying Bitcoin, ...

Robinhood to list SEC-approved Bitcoin ETFs, aligning with the convergence of crypto and finance. Pullix, powered by PLX token, introduces a hybrid crypto exchange. The PLX token pioneers “Trade-to-Earn” in the DeFi space. In a major development for the crypto space, trading app Robinhood is gearing up to list spot Bitcoin exchange-traded funds (ETFs) after the recent approval by the SEC. This move comes as a response to the SEC’s historic decision to green-light 11 spot Bitcoin ETFs, marking a pivotal moment in the world of cryptocurrency trading. Meantime, as Robinhood sets its eyes on the Bitcoin ETF market, a new hybrid cryptocurrency exchange platform called Pullix scheduled for launch this January is making waves in the crypto space. Robinhood’s foray into Bitcoin ETFs Robinhood CEO Vlad Tenev took to social media to share the platform’s eagerness to list the 11 newly approved spot Bitcoin ETFs. Emphasizing Robinhood...

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler hinted that the regulator has updated its approach to Bitcoin (BTC) ETFs. In an interview with CNBC, Gensler was asked about considering applications for spot Bitcoin ETFs. In response, the head of the regulator noted that the SEC is now considering “from eight to a dozen applications .” According to Gensler, the SEC has rejected several applications in the past, however, the regulator now appears to be changing course. “We’re taking a new look at this based upon those court rulings.” Gary Gensler, SEC Chairman News anchor Sarah Eisen asked if he was referring to the Grayscale case, with Gensler sidestepping the question saying that everything at the SEC is done “within the confines of the laws passed by Congress and how the courts interpret them.” You might also like: SEC may refuse Grayscale’s Bitcoin ETF despite court win While Gensler does not comment on the consideration of applicati...

Amidst ongoing issues in traditional markets, some view cryptocurrency as an investment option for retirement. We talked to experts to explore the pros and cons. In all the noise and concerns surrounding cryptocurrency, especially after cases like the downfall of FTX, convincing people about its positive aspects has become increasingly challenging. In this chaotic environment, considering virtual currencies as a retirement investment option is a tough decision for anyone. Presented with options like traditional Individual Retirement Accounts(IRA), bonds, stocks, mutual funds, or wealth preservation through precious metals, crypto could be the last thing on your mind. This article dives into the ups and downs of investing in crypto as a retiree, discussing the risks and challenges that come with it and how Bitcoin ETFs would impact digital currency investments. The rise of cryptocurrencies When Bitcoin entered the market, capped at a supply of 21 million, it barely had any value. ...

ProShares And Bitwise Files 7 Bitcoin and Ethereum ETF Together ProShares and Bitwise have filed three applications with the U.S. Securities and Exchange Commission (SEC) for ETFs focused on Bitcoin (BTC) and Ethereum (ETH). advertisement ProShares filed an application for the Bitcoin & Ether Equal Weight Strategy ETF. It will track the performance of the Bitcoin & Ether Equal Weight Index. ProShares has filed in total four applications for Ethereum-focused ETFs this week. In addition, Bitwise also filed applications for the Bitcoin and Ether Market Cap Weight Strategy ETF and the Bitcoin and Ether Equal Weight Strategy ETF. Bitwise has filed three Ethereum-based ETFs applications this week. Bloomberg ETF analysts James Seyffart and Eric Balchunas noted that the number of Ether futures ETF filings reaching 12 now. Recommended Articles Crypto Presale Project...

Amid increased scrutiny and tumultuous events in the crypto industry, Anchorage Digital, the San Francisco-based cryptocurrency firm, reports a substantial 80% increase in the assets under its custody in the first quarter of 2023. Anchorage Digital, the San Francisco-based crypto currency firm, reported a substantial up surge in business, spurred by an increased desire for secure asset custody methods amidst crypto volatility and regulatory pressures, as revealed by the firm’s president. The company witnessed an 80% surge in assets under its custody in the first quarter of 2023, a sharp rise from the previous quarter of 2022. As cited by the firm’s president, Diogo Monica, “billions of dollars of deposits” are channeled towards Anchorage, although exact figures have not been disclosed. First digital bank Anchorage Digital made headlines in 2021 by becoming the inaugural federally chartered crypto bank, gaining approval from the Office of the Comptroller...