Asset management giant BlackRock is reportedly promoting Bitcoin (BTC) as a part of a balanced portfolio. According to a new report by Bloomberg, BlackRock – which has over $10 trillion in assets under its management – released a new research paper saying that a 2% allocation of the top crypto asset by market cap in […]
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Bloomberg Intelligence expects MicroStrategy’s stock, MSTR, to join the Nasdaq 100 index later in December, with an announcement to come as soon as this week.
MicroStrategy (MSTR) is expected to join the Nasdaq 100 stock index on Dec. 23, with an announcement coming as soon as this week, according to a post on the X platform by Bloomberg Intelligence analyst Eric Balchunas.
The placement will rank MicroStrategy, a software company that became a de facto Bitcoin (BTC) hedge fund in 2020, among the Nasdaq stock exchange’s 100 largest stocks by market capitalization.
It will also expose MSTR to hundreds of billions of dollars in institutional capital flows tracking the widely-followed index.
MicroStrategy saw more trading volumes than the US spot Bitcoin ETFs combined as its shares tanked over 25% on Nov. 21.
Trading volumes for the “Bitcoin Industrial Complex” — the United States spot Bitcoin exchange-traded funds (ETFs) and stocks like MicroStrategy (MSTR) and Coinbase (COIN) has hit a new record high — reaching 70 billion on Nov. 21 as Bitcoin rallied above $98,300.
It smashed the previous record of $55 billion set the day before when MSTR was the second most-traded stock in the US, according to Bloomberg ETF analyst Eric Balchunas, citing data from Bloomberg Intelligence.
”BITSANITY,” Balchunas said of the eye-popping figures.
MSTR also accounted for the bulk of the day’s trading volume as its shares tanked over 25% from its highest point of $536.7 to $397.28 when the closing bell rang on Nov. 21.
Source: Eric Balchunas
The record was set as Bitcoin rallied 5% to notch a new all-time high of $98,311, CoinGecko data shows.
Bitcoin has slightly retraced to $98,075 but is less than 2% from breaching the $100,000 milestone.
Related: A perfect storm is brewing for Bitcoin
It comes as the US spot Bitcoin ETFs surpassed $100 billion worth of assets on Nov. 21.
The combined daily trading volume of shares in MicroStrategy, Coinbase and Bitcoin ETFs hit $38 billion as Bitcoin breached $89,000.
Bitcoin’s 11% rally to $89,500 on Nov. 11 has pushed United States spot Bitcoin exchange-traded funds (ETFs), MicroStrategy Inc (MSTR) and Coinbase Global Inc (COIN) to a record $38 billion in combined daily trading volume.
The record day far surpassed the previous high of around $25 million set in March amid Bitcoin (BTC) breaking through a long-held price peak, according to Bloomberg Intelligence data cited by Bloomberg ETF analyst Eric Balchunas.
“Lifetime records being set all over the place,” Balchunas said. He noted that BlackRock’s iShares Bitcoin Trust ETF (IBIT) alone saw a record $4.5 billion in trading volume.
The world’s largest stablecoin by market cap is reportedly potentially seeing a rise in adoption amongst sanctioned nations. Citing data from market intelligence platform Chainalysis, Bloomberg reports that stablecoin issuer Tether’s USDT is seeing increased usage at time zones correlated with major cities in Eastern Europe, the Middle East and Africa, including sanctioned nations such […]
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Asset management giant BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded-fund (ETF) is reportedly setting new daily inflow records. According to a report from Yahoo Finance, investors poured $875 million worth of daily inflows into BlackRock’s $31 billion Bitcoin (BTC) ETF earlier this week as we approach November’s highly anticipated presidential election. In a recent interview with […]
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Arkham Intelligence's token, ARKM, is up more than 16% on the news, according to CoinGecko.
Blockchain analytics firm Arkham Intelligence reportedly plans to launch a cryptocurrency derivatives exchange as soon as next month, according to a Bloomberg report.
The exchange will target retail traders and compete with existing platforms such as Binance, Bloomberg said, citing a person familiar with the matter.
Arkham is already reportedly in the process of obtaining a license in the Dominican Republic, where it plans to operate the exchange.
New data shows that nearly half of all traditional hedge funds are now reportedly exposed to crypto assets as regulations start to become more clear. According to a new report by Bloomberg, a recent survey revealed that 47% of hedge funds in traditional markets had exposure to crypto assets, up from 29% in 2023 and […]
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Options on Bitcoin ETFs could speed up adoption among financial advisers, James Seyffart said at Permissionless.
Options on Bitcoin (BTC) exchange-traded funds (ETFs) are likely to launch in the United States by the first quarter of 2025, according to James Seyffart, a Bloomberg Intelligence analyst.
“I think before the end of the year is possible for options, but more likely in Q1 2025,” Seyffart said during an Oct. 9 panel discussion at the Permissionless conference.
In September, the US Securities and Exchange Commission (SEC) authorized Nasdaq to list options tied to BlackRock’s Bitcoin ETF, iShares Bitcoin Trust (IBIT).
The ETFs add leverage to MicroStrategy’s already levered-up Bitcoin strategy, and investors can’t seem to get enough.
Leveraged MicroStrategy (MSTR) exchange-traded funds (ETFs) broke $400 million in net assets this week as retail investors continue to pour into the ultra-volatile Bitcoin (BTC) plays, according to data from Bloomberg Intelligence.
Asset manager Defiance ETFs launched the first leveraged MSTR ETF in August. Competitors REX Shares and Tuttle Capital Management in September with an even more leveraged offering set off what Bloomberg ETF analyst Eric Balchunas has dubbed the “hot sauce arms race.”
Originally a business intelligence firm, MicroStrategy transformed into a de-facto cryptocurrency hedge fund in 2020 when founder Michael Saylor started using the company’s balance sheet to buy Bitcoin.
