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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...

A disappointing start to the year for the electric vehicle manufacturer (EV) could only get worse, as Tesla (TSLA) stock could see 40% of profits disappear in 2025, according to JPMorgan. Indeed, the institution has expressed some concern regarding what could be on the horizon when US President-elect Donald Trump takes office next year. The Elon Musk-led company skyrocketed after Trump emerged victorious in the 2024 election. Just one month prior, the company unveiled its highly anticipated Robotaxi product line. With autonomous vehicles set to be a critical part of its business model, there is a lot that is on the line as it enters a critical 2025. Source: Vanity Fair Also Read: Tesla (TSLA) Up 69% Since Trump Win: Is Now the Time to Buy? JPMorgan Warns 40% of Tesla Profits in Trouble in 2025 Throughout the last several months of 2024, Elon Musk joined Donald Trump on the 2024 campaign trail. In response, the Tesla CEO was made head of Trump’s Department of Government Efficiency ...

Ethereum’s ( ETH ) staking ratio is currently at 14%. However, JPMorgan believes Ethereum’s upcoming Shanghai upgrade will increase the network’s staking ratio in the middle term. The financial giant said that ETH ’s ratio has plenty of space to rise. This is because the average for other proof-of-stake (PoS) networks is nearly four times as high. As per the data, the validator count might rise from 0.5 million to 2.2 million. Moreover, the return would drop from the present 7.4% to about 5% if the staking ratio eventually heads to the 60% average of other significant PoS networks. Furthermore, the JPMorgan analysis states that future staking will move to liquid staking protocols, such as Lido on the Ethereum blockchain. The research emphasized how these protocols enable staked assets to have liquidity. These assets would otherwise be locked in staking contracts. Such protocols do this by “providing an equal amount of derivative token in exchange for st...

According to the latest reports from JPMorgan that went live on Friday, Silvergate Capital has been downgraded from “overweight” to “neutral.” JPMorgan stated in the report that Silvergate Capital experienced more than expected deposit outflows in Q4, which will have financial implications on its long-term profitability. The price target was also cut to $14 from $30. “While the challenging backdrop for the crypto settlement business was a factor in the worse-than-expected results being released, we also believe that concerns voiced by short-sellers (on Twitter) likely also contributed to Silvergate’s customers withdrawing deposits from the platform at a greater than anticipated level,” analysts led by Steven Alexopoulos said. Source: CNBC Silvergate shares plunge hard According to recent reports, Silvergate Capital has laid off 40% of its workforce, which accounts for 200 employees. It has also come to light that the crypto currency bank witness...