Tag: ETFs

Bitcoin ETFs Added To Michigan State Pension Fund With $6.6 Million Allocation

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The approval of Bitcoin ETFs by the US Securities and Exchange Commission (SEC) in January 2023 has opened the floodgates for significant institutional investment in the newly approved market. However, US states are also rushing to capitalize on the success of these ETFs by allocating a portion of their pension funds to reap profits and diversify their investments. Wisconsin, Jersey City, Michigan Allocate Millions To Bitcoin ETFs The first state to take the plunge was Wisconsin, which in May 2023 allocated approximately $98.6 million, or 2% of its pension fund, to…

Why Is ETH Price Struggling Despite The Spot Ethereum ETFs Launch?

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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 could see further decline from here, according to an analysis from Matrixport. Spot Ethereum ETFs Triggers Selling Following the launch of the Spot Ethereum ETFs, there was a lot of excitement in the market, especially…

Michigan adds $6.6m in Bitcoin ETFs to pension fund

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The State of Michigan Retirement System has invested $6.6 million in ARK 21Shares’ ARKB spot Bitcoin exchange-traded fund. The ETF investment, disclosed in a 13-F form filed with the SEC, represents a small fraction — 0.004% — of the state’s substantial $143.9 billion pension fund. Michigan’s decision reflects a broader trend of institutional adoption of Bitcoin (BTC), following the lead of other states. The State of Wisconsin Investment Board recently reported a $99 million Bitcoin investment through BlackRock’s IBIT ETF. Another state pension fund has added Bitcoin to its portfolio.…

US Bitcoin ETFs Report $31.16M Inflows on Thursday

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Based on Thursday’s data, the 11 U.S. spot bitcoin exchange-traded funds (ETFs) experienced another day of net inflows following Wednesday’s increases. Statistics indicate that $31.16 million was absorbed primarily by Blackrock’s IBIT, although the amount would have been higher if not for the reduction seen by Grayscale’s GBTC. Bitcoin ETF Market Prints $59B Total Value […] Original

Franklin Templeton joins forces with SBI to debut Bitcoin ETFs in Japan: report

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Japanese financial giant SBI Group is teaming up with Franklin Templeton to prepare for a possible approval of crypto funds in Japan. Japanese financial giant SBI Group is teaming up with U.S. asset manager Franklin Templeton in anticipation of potential approval for crypto funds in Japan, aiming to introduce spot Bitcoin exchange-traded funds to the Japanese market, Nikkei Asia has learned, citing sources familiar with the matter. In the joint venture, SBI Group will hold a 51% stake, while Franklin Templeton will own the remaining part. While spot Bitcoin ETFs…

Jersey City Mayor’s Plan To Introduce Bitcoin ETFs Into Pension Funds

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Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration…

US Bitcoin ETFs Draw $44.51M in Inflows; GBTC Sees Another Round of Outflows

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While U.S. spot ether exchange-traded funds (ETFs) experienced outflows on Wednesday, bitcoin ETFs saw inflows totaling $44.51 million. Blackrock’s IBIT led with gains of $65.99 million, followed by Ark Invest’s and 21shares’ ARKB with $3.29 million. While Blackrock Captures Nearly $66M, Grayscale Outflows Weigh in Again During Wednesday’s trading sessions, U.S. spot bitcoin ETFs accumulated […] Original

Jersey City to Invest in Bitcoin ETFs, the Latest Pension to Dive Into Crypto

Wisconsin’s public pension plan – the State of Wisconsin Investment Board, which has roughly $156 billion in assets under management – is the biggest pension plan to dive into crypto so far, with a $160 million investment into spot bitcoin ETFs earlier this year. Some small pension funds like the Houston Firefighters’ Relief and Retirement Fund, which has about $5 billion in assets under management, have been invested in crypto for several years. Source

Ethereum ETFs Face $133M Outflows as Grayscale’s ETHE Divests $326M

Based on recent data, after a period of inflows, nine U.S. spot ethereum exchange-traded funds (ETFs) experienced withdrawals totaling $133.16 million on Wednesday. The majority of these withdrawals came from Grayscale’s ETHE, which saw a significant $326.86 million in outflows on July 24. Wednesday Sees $133M Exit U.S. Ethereum ETFs, Grayscale’s ETHE Major Driver U.S. […] Source BitcoincryptoexchangeExchanges CryptoX Portal