Global investment bank Goldman Sachs has reported holdings of $418 million in spot bitcoin exchange-traded funds (ETFs) in the second quarter. Its biggest position is a $238 million stake in Blackrock’s Ishares Bitcoin Trust (IBIT). In contrast, Morgan Stanley reduced its bitcoin ETF holdings. Meanwhile, hedge funds are taking a more aggressive stance in the…
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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the last week. In this issue: El Salvador holds talks with the IMF despite its Bitcoin allegiance; Brazil greenlights the first Solana spot ETF; and Polymarket gets criticized for its decision on the Venezuelan presidential election bet. El Salvador…
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The Brazilian securities regulator (CVM), equivalent to the U.S. SEC, has greenlighted the launch of a solana spot ETF for national markets. The product, the first of its kind to be approved, is offered by QR and managed by Vortx. It is already in its pre-trading stages. Brazilian SEC Pioneers Solana Spot ETF Approval Solana…
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The global economic market has now so far shown increasing signs of instability which appears to have impacted the overall crypto investment sector negatively. Recent data from CoinShares has revealed a reversal in the flow of funds, with crypto investment products experiencing significant weekly outflows. As reported by CoinShares, this outflow marks the first time…
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Economist and gold advocate Peter Schiff has warned investors that a sharp drop in bitcoin’s price could trigger mass bitcoin exchange-traded fund (ETF) liquidations. “If so, brace for a Crypto Black Monday,” he cautioned. He believes that bitcoin has been in a major bear market for almost three years. Peter Schiff Warns of Sharp Decline…
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The head of strategy at crypto investment firm 21shares has explained that the broad-based bitcoin selloff following the Federal Reserve’s decision to keep interest rates unchanged was partly due to increasing geopolitical tensions in the Middle East and fears of conflict escalation, leading to a temporary flight to safety. He also noted that anticipated interest…
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A survey of 32 cryptocurrency experts on the Finder panel predicts significant growth for ether prices, with average forecasts of $5,368 by the end of 2024, $7,359 by the end of 2025, and $23,549 by 2030. These projections highlight the anticipated impact of institutional factors such as ethereum exchange-traded funds (ETFs). Survey Predicts Strong Future…
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Post the Spot Ethereum ETFs launch, the ETH price has continued to struggle unexpectedly, proving that the launch of the Spot ETFs were a ‘sell the news’ event. So far, the second-largest cryptocurrency by market cap has lost around 10% of its value since the Spot Ethereum ETFs trading began on Tuesday, July 23, and…
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According to the latest U.S. Securities and Exchange Commission (SEC) 13-F filing from Ark Invest’s and 21shares’ ARKB fund, the State of Michigan Retirement System (SMRS) acquired approximately $6.59 million in ARKB shares. This news follows an announcement by Steven Fulop, the mayor of Jersey City, New Jersey, that the city’s pension fund will invest…
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Amid rising institutional engagement in Bitcoin, a sharp spike in exchange-traded fund (ETF) inflows over the past few days has sparked interest from traders and analysts alike. Earlier today, a noteworthy analysis from the popular trader Skew on social platform X highlighted a potential risk for Bitcoin amidst its current influx of capital. Skew pointed…
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