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Capula Management Discloses $500 Mln Holding

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3 months ago

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The cryptocurrency industry keeps seeing more institutional organizations dive into the sector through spot Bitcoin ETF products. The introduction of spot Bitcoin and Ethereum ETFs in the United States now serves as a vehicle for these institutional investors to obtain a slice of the digital asset ecosystem. Global investment asset manager Capula Management recently revealed that its financial portfolio now contains crypto.

Institutional Investors in the Crypto Landscape

The company, which is touted as Europe’s fourth-largest investment manager, stated that it has approximately $500 million in spot Bitcoin ETFs. Noteworthy, a significant percentage of this holding is in Fidelity’s FBTC and BlackRock’s IBIT.

According to a filing submitted to the United States Securities and Exchange Commission, Capula Management own FBTC worth about $211 million. It also has $253 million in BlackRock’s spot Bitcoin ETF and this brings the total to $464 million. To a significant extent, this investment reflects the increasing acceptance and adoption of crypto solutions particularly Bitcoin amongst institutional investors and the traditional financial sector.

It is likely that the SEC’s approval of these crypto products brought reassurance and accessibility to these investors. The approval promotes a level of confidence to investors, assuring them of the highly regulated nature of the market. Even the recent Bitcoin price fluctuation of the underlying cryptocurrency has not successfully prevented institutional investors from taking a move on the market.

MicroStrategy Remains Optimistic About Bitcoin

The state of the crypto market is quite unexpected, with the price 0f many digital assets including Bitcoin bleeding terribly. It is worth noting that popular economist Peter Schiff had earlier predicted that there could be a 15% gap down for spot Bitcoin ETFs on Monday.

Despite this outlook, MicroStrategy Chairman Michael Saylor says he will continue to HODL his Bitcoin holdings with Diamond hands. So far, the firm has a total of about 226,500 BTC in its portfolio.

As part of its Bitcoin acquisition strategy, MicroStrategy may seize this opportunity of a price drop to increase its Bitcoin holding. Already, it announced during its last week’s Q2 results that MicroStrategy is looking to raise an additional $2 billion in cash to buy more BTC.

While this MicroStrategy Bitcoin strategy has enticed several firms to take a slice of the crypto market, many others may even make a decision in this direction soon.

Read More: RippleX Schedules XRPL Testnet Reset to Boost These Features

 

 

 

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Market Expert Explains Why Election Outcome Is Key For Solana And XRP ETFs

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17 mins ago

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November 5, 2024

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President of The ETF Institute, Nate Geraci, says the upcoming election will profoundly impact the future of crypto ETFs.  The approval of new spot ETFs for assets such as Solana, XRP, and Litecoin is of particular interest.

A Kamala Harris administration, which many expect will be an extension of the Biden administration’s cautious approach to crypto, might delay progress in this area. Meanwhile, a Trump administration could finally mean a friendlier crypto environment in which ETF innovation accelerates.

Election Outcome Could Shape Future of Solana and Crypto ETFs

The future of crypto ETFs might take shape after this election, believes Nate Geraci, President of The ETF Institute. In particular,  the eventual approval of new spot ETFs for assets like Solana, XRP, and Litecoin is expected.

A Kamala Harris-led administration continuance from the Biden Administration that was being cautious might make things go slow. A Trump administration would create a more congenial atmosphere where innovation and approvals of ETFs would possibly hasten.

Nate Geraci said that successful spot Bitcoin and Ether ETFs have inspired a push for new crypto products. This includes potential spot ETFs for Solana, XRP, and Litecoin. Grayscale now wants to convert its Digital Large Cap Fund into an ETF.

Besides Bitcoin and Ether, the fund contains tokens from Solana, XRP, and Avalanche. Conversely, a Kamala Harris presidency would likely continue the same cautiousness toward crypto as the Biden administration. While there was a clear path that Bitcoin and Ether ETFs took about approval by the SEC, including futures-based products, there is no such framework for other crypto assets, and thus, a path forward is not well understood.

Trump, on his part, has indicated that his administration will be much friendlier toward crypto.

30+ Fund Firms, Including BlackRock, Seek SEC Approval for ETF Share Classes

Over 30 fund firms, including  BlackRock, Fidelity, T. Rowe Price, and John Hancock, have filed for exemptive relief from the SEC. They intended to add an ETF share class in their existing mutual funds. This way, these firms could keep their lucrative 401(k) mutual fund channels intact while entering the growing ETF market.

Also, just recently, Canary Capital, a crypto-focused investment firm founded by former Valkyrie Funds co-founder Steven McClurg, filed for a Solana ETF with the U.S. Securities and Exchange Commission (SEC).

According to industry participants, this model is more likely to get approved by a Republican-led SEC, while significant growth in ETFs could come in 2025 if the election goes this way. This could catalyze record fund launches and inflows as large asset managers race to combine ETFs and mutual funds.

Nate Geraci, said the US debt crisis, now at $36 trillion, has legislators looking everywhere for new sources of tax revenue—and ETFs could be next on the list. With him would agree an analyst Ran Neuner who recently shared disturbing trend in the United States – addiction to debt. Neuner said that with the country heading towards one of the most significant elections, Neuner noted that this addiction to spending would have no impact resulting from the election.

In the past, Senate Finance Committee Chair Ron Wyden drafted legislation to eliminate the in-kind redemption tax-deferral feature of the ETF.

This critical component makes ETFs so tax-efficient. Although this legislation did not move forward, Geraci noted that it showed how ETF taxation is still in some politicians’ minds. This is particularly referred to asset managers looking to create ETF share classes to give mutual funds tax benefits. Come election results, the shift in the landscape of tax policies can go any which way. The ETF industry is preparing itself for any changes in rules that may alter how its tax benefits are structured.

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin-focused NiceHashX Conference Happening This Week

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14 hours ago

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November 5, 2024

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Bitcoin has teased the prospect of a fresh all-time high in recent weeks, and now the world’s best-loved cryptocurrency is in the spotlight once again. This time it’s the subject of a two-day conference organized by leading hashrate marketplace NiceHash, set to get underway in Slovenia’s charming city of Maribor on November 8.

The event, NiceHashX, was put together to commemorate both the platform’s 10th anniversary and Slovenia’s emergence as a European crypto powerhouse. And the timing couldn’t be more significant: the conference coincides with expected heightened market activity following the U.S. presidential election three days earlier. 

Sunny Side of the Alps

In recent years Slovenia has established itself as a European blockchain hub. In fact, it’s second only to Switzerland – home to the so-called Crypto Valley in Zug – in terms of web3 startups. With NiceHash leading the charge from its Maribor offices, the Central European country has witnessed remarkable adoption rates and projections suggest a fifth of the population will be using digital assets by 2028.

It’s perhaps unsurprising, then, that Maribor has been chosen as the venue for NiceHashX. Not only is the quaint city home to the hashrate marketplace, but it provides a picturesque backdrop in the form of the Pohorje Mountains.

Christened the ‘Bitcoin Conference on the Sunny Side of the Alps,’ NiceHashX will feature numerous high-profile speakers including BTC maximalist Saifedean Ammous, bestselling author of The Bitcoin Standard, BTC Prague conference CEO Martin Kuchař, and Bitcoin FilmFest Co-founder Pierre Corbinand. In addition to an expo area, there will be three main stages, numerous side events, and an official after-party with a VIP dinner and music show. 

“We are delighted to welcome the world to discover how Slovenia is leading the way in European Bitcoin adoption,” says NiceHash CEO Vladimir Hozjan. “With 10 years of experience in this industry, we have witnessed phenomenal growth in the interest of using Bitcoin, here in Maribor and around the country. Join us as we celebrate, and witness Bitcoin in its purest form, used by everyday people, alongside some of the brightest speakers in the industry.”

Interestingly, NiceHash has developed a BTC payment solution that will be showcased at the event as well as in the city, an innovation that underscores its commitment to promoting adoption. Ticket prices range from just €21 to €2,100 for the bells-and-whistles VIP package.

NiceHash is a perfect example of Slovenia’s crypto-friendly status. From its humble beginnings as a project by two enterprising university students, the platform, which pairs buyers and sellers of hashpower, has grown to serve over 2.5 million users – including 250,000 daily active miners. Earlier this year, it made waves by launching the world’s first fully automated Lightning Network payouts for the latter cohort. Over 1,000 Slovenian businesses already accept BTC as payment.

Candidates Covet Crypto Vote

In recent months, the U.S. presidential race has brought crypto policy into sharp focus. Both Trump and Harris have made overtures to the Bitcoin community, marking a notable shift in mainstream political discourse around digital assets.

Donald Trump’s appearance at this year’s Bitcoin Conference included bold promises to make the United States the “crypto capital of the planet and the Bitcoin superpower of the world.” While her rhetoric has been less overt, Democrat hopeful Kamala Harris has pledged support for cryptocurrency regulation.

Whoever wins the race for the White House, NiceHashX promises to be a lovefest for members of the Bitcoin community, from developers and entrepreneurs to freedom-loving citizens only too happy to exit fiat in favor of ‘digital gold.’

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Wanes To $68K, Altcoins Flux, & DOGE Up 6%

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17 hours ago

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November 5, 2024

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Crypto prices today have set off waves of concerns among market participants globally. Bitcoin (BTC) price waned to the $68K level over the past day, whereas Ethereum (ETH), Solana (SOL), and XRP prices witnessed a falling action. Simultaneously, the global crypto market cap dipped 0.99% at press time, reaching $2.23 trillion. However, the total market volume witnessed a 12.5% increase in value to $82.04 billion.

Besides, Dogecoin (DOGE) emerged as the day’s top market gainer, defying the broader market sentiment. So, let’s delve deeper into some of the major crypto prices today, November 5.

Crypto Prices Today: BTC, ETH, SOL, & XRP Face Volatility But DOGE Soars

The crypto prices today illustrate that BTC and top altcoins are mainly battling market turbulence. However, coins like DOGE and Monero have defied the broader trend. Simultaneously, it’s worth mentioning that the meme coins sector also witnessed mixed price actions. Here’s a brief report on some of the leading coins by market cap and their price run today.

Bitcoin Price Today

BTC price dropped nearly 2% in the past 24 hours and is now trading at $68,006. The coin’s intraday low and high were recorded as $66,803.65 and $69,335.33, respectively. Bitcoin’s market cap rested at $1.35 trillion today. The flagship crypto’s slumping action falls in line with a remarkable $579.49 million worth of outflows in spot ETFs as of November 4, per Sosovalue data that excluded BlackRock’s IBIT. Further, BTC’s market dominance slipped 0.45% over the past day to reach 60.38%. Meanwhile, Mt. Gox was recorded as moving $2.2 billion worth of BTC amid this slumping movement, hinting at asset reorganization movers for creditor repayment.

Ethereum Price Today

ETH price slipped nearly 2.5% in the past 24 hours and is currently trading at $2,414. Its intraday low and high were recorded as $2,359.58 and $2,483.05, respectively. Ethereum’s market cap rested at $290.71 billion today. Notably, even ETH’s waning run aligns with $74.24 million worth of outflows in spot Ethereum ETFs, excluding BlackRock’s ETHA data. Meanwhile, CoinGape Media reported the State of Michigan purchased more than $11 million worth of ETH through ETFs, garnering attention toward the crypto.

Solana Price Today

SOL price tanked nearly 3% in the past 24 hours and is now trading at $158. The coin’s 24-hour low and high were recorded as $155.17 and $164.71, respectively. SOL’s market cap was evaluated as $74.82 billion today. Further, Solana was reported to have witnessed a remarkable surge in transactional volume and fee generated on the network during October.

XRP Price Today

Simultaneously, XRP price witnessed a 0.5% drop in value over the past day and is now trading at $0.5048. The coin’s 24-hour low and high were recorded as $0.4968 and $0.5138, respectively. XRP’s market stood at $28.70 billion today. Further, a recent CoinGape report revealed that the XRP coin eyes a $10 price target amid declining escrow stakes.

Meme Coins Performance Today

Notably, Dogecoin (DOGE) emerged as the day’s top gainer, surging 6% intraday to reach $0.1616. Also, even Shiba Inu (SHIB) price gained roughly 2% intraday to $0.00001727. However, Pepe coin (PEPE), dogwifhat (WIF), and POPCAT prices tanked 2%-8% in the past 24 hours.

Top Crypto Gainers Prices Today

Dogecoin

As mentioned above, DOGE emerged as the day’s top market gainer with an intraday low and high of $0.1496 and $0.1659, respectively. DOGE price traded at $0.1616.

Monero

XMR price gained nearly 2% over the past day and is currently trading at $160. The coin’s 24-hour low and high were $156.69 and $161.54, respectively.

Mog Coin

MOG price soared roughly 3% in the past 24 hours and is now trading at $0.000001788. Its 24-hour low and peak were $0.00000165 and $0.000001789, respectively.

Top Crypto Loser Prices Today

THORChain

RUNE price cracked 12% over the past day and is currently sitting at $4.40. The coin’s intraday low and high were $4.23 and $5.07, respectively.

Pendle

PENDLE price slipped nearly 9% over the past 24 hours and is trading at $4.12. The coin’s intraday low and high were $4.05 and $4.56, respectively.

Cat in a dogs world

MEW price tanked 6% intraday and is now trading at $0.007879. The coin’s 24-hour low and high were $0.00765 and $0.008443, respectively.

Besides, the hourly time frame charts sparked further optimism over the crypto prices today as BTC gained 0.4% while ETH gained 0.3%.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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