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Franklin Templeton files S-1 for new crypto index ETF

Coin Telegraph
Franklin Templeton files S-1 for new crypto index ETF
bitcoin etf

Issuers are lining up for the next wave of cryptocurrency exchange-trade funds.

Asset manager Franklin Templeton is seeking to launch a new exchange-traded fund (ETF) designed to as a one-stop-shop crypto portfolio, according to an Aug. 16 filing. 

The Franklin Crypto Index ETF will track the performance of the CF Institutional Digital Asset Index, which currently only comprises Bitcoin (BTC) and Ethereum (ETH), the filing said.

“The Fund will seek to achieve its investment objective by investing in the Digital Assets in approximately the same weights as they represent in the Underlying Index,” according to the filing, which says that the ETF may hold additional types of cryptocurrencies in the future.

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Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Goldman Sachs, Capula, Avenir were biggest BTC ETF buyers in Q2 — CoinShares

Coin Telegraph
Goldman Sachs, Capula, Avenir were biggest BTC ETF buyers in Q2 — CoinShares
bitcoin etf

The companies collectively purchased nearly $1.3 billion worth of Bitcoin ETF shares during the quarter.

Asset managers Goldman Sachs, Capula Management, and Avenir Tech emerged as the biggest buyers of Bitcoin (BTC) exchange-traded funds (ETFs) in the second quarter of 2024, according to an analysis by CoinShares Research shared with Cointelegraph. 

According to CoinShares’ review of quarterly 13F disclosures filed by large fund managers, the three investment firms collectively bought nearly $1.3 billion worth of BTC ETF shares.

Since launching in January, Bitcoin ETFs have seen enormous demand, aided in part by adoption by large financial institutions such as Morgan Stanley.

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Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Goldman Sachs, Capula, Avenir were biggest BTC ETF buyers in Q2 — CoinShares

Coin Telegraph
Goldman Sachs, Capula, Avenir were biggest BTC ETF buyers in Q2 — CoinShares
bitcoin etf

The companies collectively purchased nearly $1.3 billion worth of Bitcoin ETF shares during the quarter.

Asset managers Goldman Sachs, Capula Management and Avenir Tech emerged as the biggest buyers of Bitcoin (BTC) exchange-traded funds (ETFs) in the second quarter of 2024, according to an analysis by CoinShares Research shared with Cointelegraph. 

According to CoinShares’ review of quarterly 13F disclosures filed by large fund managers, the three investment firms collectively bought nearly $1.3 billion worth of BTC ETF shares.

Since launching in January, Bitcoin ETFs have seen enormous demand, aided in part by adoption by large financial institutions such as Morgan Stanley.

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Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

NYSE, Nasdaq withdraw 3 more requests for crypto ETF options rule changes

Coin Telegraph
NYSE, Nasdaq withdraw 3 more requests for crypto ETF options rule changes
bitcoin adoption

Activity keeps heating up around Bitcoin and Ethereum ETF options.

New York Stock Exchange (NYSE) American and Nasdaq International Securities Exchange (ISE) withdrew three more requests for rule changes related to listing options on Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs), according to regulatory filings submitted after market close on Aug. 14 and Aug. 15. 

The withdrawals are the latest in a flurry of activity surrounding spot BTC and ETH ETF options in the United States. On Aug. 13, NYSE Arca withdrew another requested rule change intended to chart a path toward listing crypto ETF options.

Related: Expect Bitcoin ETF options to launch before 2025

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Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

New DeFi protocol Nudge aims to unlock hidden value in users’ wallets

Coin Telegraph
New DeFi protocol Nudge aims to unlock hidden value in users’ wallets
Coin Telegraph

Nudge seeks to unleash a new DeFi primitive called Re: allocation Value.

Nudge is launching a new decentralized finance (DeFi) protocol on Ethereum designed to unlock the economic value hidden in users’ wallets, it told Cointelegraph on Aug. 15. 

It aims to create a two-sided marketplace where Web3 protocols pay users incentives — or “Nudges” — to redirect onchain assets, liquidity and engagement.

Nudge will unleash a new DeFi primitive called “Re: allocation Value” that represents the economic value of users’ onchain activities, according to the company.

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Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Toncoin (TON) gains 10% after Binance Launchpool platform addition

Coin Telegraph
Toncoin (TON) gains 10% after Binance Launchpool platform addition
Coin Telegraph

Growth in its DeFi ecosystem and the upcoming Binance Launchpool addition have put wind in Toncoin’s sails.

Toncoin (TON) price has posted significant gains over the last 10 days, reaching its highest levels in almost four weeks as crypto traders assessed a slew of optimistic updates in its ecosystem, including landing a spot on the Binance Launchpool. 

Data from Cointelegraph Markets Pro and TradingView shows that TON rose from a low of $4.78 on Aug. 5, climbing more than 51% to reach an intraday high of $7.26 on Aug. 14. At the time of publication, TON was trading at $6.98, up 10% over the last 24 hours.

TON is now the 8th-biggest cryptocurrency, with a market capitalization of over $17.67 billion. The more than 90% jump in the 24-hour trading volume attests to the intensity of the demand-side activity.

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Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Exclusive: Fireblocks granted New York charter for crypto custody

Coin Telegraph
Exclusive: Fireblocks granted New York charter for crypto custody
Banks

The charter allows Fireblocks to offer cold-storage custody to US clients.

Web3 infrastructure provider Fireblocks has been granted a New York state charter to custody cryptocurrency for clients in the United States, Fireblocks told Cointelegraph on Aug. 14. 

“As of this month, Fireblocks Trust Company, LLC has received its limited purpose trust company charter to engage in virtual currency business and will soon begin offering cold storage custody solutions powered by Fireblocks' technology to US customers,” Fireblocks told Cointelegraph in a statement.

In May, Fireblocks said it intended to “launch a limited-purpose trust company that is under the regulation of the New York Department of Financial Services (NYDFS)” called Fireblocks Trust Company that “will offer cold storage custody solutions to US clients.”

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Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Low CPI print is fodder for Bitcoin to retest all-time highs — Grayscale research head

Coin Telegraph
Low CPI print is fodder for Bitcoin to retest all-time highs — Grayscale research head
Analysis

Bitcoin’s response to the CPI report was surprisingly muted.

Lower-than-expected core inflation in the United States is fodder for Bitcoin (BTC) to retest its all-time highs, Zach Pandl, Grayscale’s head of research, told Cointelegraph on Aug. 14. 

The US Bureau of Labor Statistics (BLS) reported July Consumer Price Index (CPI) data on Aug. 14 showing annualized price increases for consumers of 2.9% — the slowest rate since 2021. That is “significant because it will allow the Fed to begin reducing rates,” Pandl said.

“Rate cuts are likely a necessary condition for sustained weakness in the US Dollar and fodder for Bitcoin to retest its all-time highs,” according to Pandl. “Fortunately for crypto investors, the incoming data may be a signal for lowering rates sooner rather than later."

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Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Hive Digital sales up 36% as Bitcoin miner forays into AI compute

Coin Telegraph
Hive Digital sales up 36% as Bitcoin miner forays into AI compute
Bitcoin mining

Hive's new high-performance computing platform clocked around $2.6 million in sales in the second quarter of 2024.

Hive Digital Technologies Ltd. (HIVE) notched a 36% uptick in sales in the second quarter of 2024 as the Canadian Bitcoin miner diversifies into providing computational power to artificial intelligence (AI) applications, according an Aug. 13 filing.

Hive reported second-quarter 2024 revenues of around $32 million, compared to some $23.5 million the year prior, the company said. Much of those gains came from Hive’s core cryptocurrency mining business. The company also scaled its new high-performance computing platform to around $2.6 million in sales.

On July 12, 2023, the company changed its name from Hive Blockchain Technologies to Hive Digital Technologies to reflect a pivot to hosting AI and other advanced applications. The shift was an effort to cash in on the company’s large inventory of Nvidia graphics processing unit (GPU) cards, Hive said.

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Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

US Democrats are ‘increasingly gravitating towards crypto’ — Poll

Coin Telegraph
US Democrats are ‘increasingly gravitating towards crypto’ — Poll
Coin Telegraph

A poll of 804 self-identified Democrats suggested a majority favored some of the core values surrounding digital assets, as well as the US leading the world on innovation.

According to a poll sponsored by venture capital firm Paradigm, United States Democratic presidential nominee Kamala Harris has an opportunity to make “inroads with crypto owners” during her campaign.

In a poll conducted with Mercury Analytics among 804 self-identified Democratic registered voters after US President Joe Biden said he would not be running for reelection, data suggested that Vice President Harris could increase her chances of winning in November by appealing to crypto-focused voters. Of the Democrats surveyed, 27% said they were “somewhat likely” or “very likely” to purchase crypto in the next year.

According to the poll, roughly 13% of Democrats said they were undecided or intended to vote for Republican nominee Donald Trump or a third-party candidate like Robert F. Kennedy Jr. This data suggested that Harris could “win back some wayward Democrats” seemingly by distancing herself from the Biden administration’s crypto policies, such as those at the Securities and Exchange Commission.

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Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

Next Week or Two Could Be Critical for Bitcoin (BTC), According to Analyst Benjamin Cowen – Here’s Why

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