Fidelity Refiles For Spot Bitcoin ETF, Joining Peer Institutions
Fidelity Investments has refiled its spot bitcoin ETF application, which brings the total pending applications to seven.
Hong Kong’s HSBC Allows Customers To Trade Bitcoin ETFs, Signaling A Shift In Traditional Banks’ Stance
HSBC’s decision comes amid a surge of institutional interest in Bitcoin ETFs, potentially fueling a global competition to attract capital.
Crypto Asset Manager Wisdomtree Reveals ‘Direct-to-Retail’ Digital Wallet
The crypto asset and exchange-traded fund (ETF) manager Wisdomtree has revealed the company is launching a new digital wallet called Wisdomtree Prime, which will allow users to hold crypto assets, blockchain-enabled funds, tokenized versions of commodities like gold, and access to stocks or bonds based on Wisdomtree’s indexes. Wisdomtree to Launch Prime Wallet in Q2, […]
Valkyrie Files for ETF That Invests in Firms That Derive 50% Revenue From Bitcoin Mining Industry
The digital currency asset manager Valkyrie has applied for an exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The fund plans invest at least 80% of its net assets into firms that derive at least 50% of their revenue from the bitcoin mining industry. Valkyrie’s Proposed ETF Targets the Bitcoin Mining Industry […]
Bitcoin ETF Launch Hype Fades as Funds Slip in Value, BTC Futures Open Interest Down 38% in 2 Months
Following the charged-up debut of the Proshares bitcoin exchange-traded fund (ETF), Valkyrie’s bitcoin futures ETF and the Vaneck bitcoin strategy ETF, interest in these types of funds seems to have faded a great deal. After the Proshares bitcoin ETF BITO reached an all-time high on November 10, the ETF is down 39% over the last […]
Fidelity Adds Bitcoin Exposure To Traditional ETFs
The Canadian investment manager said the allocation seeks to improve the two funds’ risk-adjusted returns in the future.
Bitcoin holdings of public companies have surged in 2021
The amount of BTC held by public companies has gained significant market share from that held in spot ETFs since Microstrategy’s “Bitcoin for Corporations” conference during Feb 2021.
The quantity of Bitcoin held by private corporations has increased significantly during 2021, building on increases from the previous year.
In a Jan. 3 tweet, on-chain analyst Willy Woo claimed that public companies holding “significant BTC have gained market share from spot ETFs as a way to access BTC exposure on public equity markets”.
This has been more noticeable since MicroStrategy’s “Bitcoin for Corporations” conference on Feb. 3 and 4, 2021. The online seminar aimed to explain the legal considerations for firms seeking to integrate Bitcoin into their businesses and reserves.
Michael Saylor’s MicroStrategy is a leading business intelligence firm and is known for being particularly bullish on BTC, owning almost $6 billion in crypto assets.
On Dec 30, Saylor’s firm purchased a further 1,914 BTC worth $94 million. The company has gained more than $2.1 billion in profit since its initial BTpurchase in August 2020.
Woo referenced a chart of BTC holdings inside ETFs and public company treasuries available for public ownership via equity markets, based on crowdsourced corporate treasury data.
Spot Exchange Traded Funds (ETFs) hold BTC, as opposed to Futures, in which companies purchase exposure via contracts from the CME futures market.
Since MicroStrategy’s “Bitcoin for Corporations” conference in Feb 2021, public companies* holding significant BTC have gained market share from spot ETFs** as a way to access BTC exposure on public equity markets.
* MicroStrategy & public mining companies
** Mainly Grayscale pic.twitter.com/e18OEfgiEW— Willy Woo (@woonomic) January 2, 2022
The data shows that digital currency asset management company Grayscale has gained the highest market share by a landslide, at 645,199 BTC by the end of 2021. This took up 71% of the wider market, as holdings of all spot ETFs and corporations together totaled 903,988 BTC according to the chart.
Related: Missed out on hot crypto stocks in 2021? It paid just to buy Bitcoin and Ethereum, data shows
MicroStrategy is the largest corporate investor, holding 124,391 BTC valued at around $5.8 billion according to BitcoinTreasuries. Second-placed Tesla holds around 43,200 coins worth roughly $2 billion at current prices.
During 2020, the amount of BTC held by public companies surged 400% in 12 months to $3.6 billion as reported by Cointelegraph.
The post Bitcoin holdings of public companies have surged in 2021 appeared first on CoinRegWatch.
Sberbank Launches First Blockchain ETF in Russia
Russian banking giant Sberbank has presented the country’s first exchange-traded fund (ETF) giving investors access to the blockchain space. The new instrument holds securities of companies dealing with cryptocurrencies and the technologies that underpin them. Sberbank Introduces ETF Tracking Blockchain Economy Index The largest banking and financial services provider in Russia and the post-Soviet space, […]