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Crypto VCs see ‘big opportunities’ with L2 interoperability, but not AI

Coin Telegraph
Crypto VCs see ‘big opportunities’ with L2 interoperability, but not AI
Coin Telegraph

Cointelegraph spoke to VCs to find out which sectors they’re currently interested in, as investments increased in Q2.

Layer-2 blockchains and infrastructure projects are among the big winners as blockchain venture capital (VC) spending rose to $2.7 billion in the second quarter of 2024.

Decentralized social media, decentralized physical infrastructure networks and decentralized science are some of the hot areas currently gaining traction.

However, some big-name VCs are starting to cool on artificial intelligence after revenue and demand failed to materialize.

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Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

Tokenized RWAs are ’a $30 trillion opportunity’ — Polygon exec

Coin Telegraph
Tokenized RWAs are ’a trillion opportunity’ — Polygon exec
Coin Telegraph

High-net-worth individuals and private equity funds will drive adoption, said Colin Butler.

Tokenized real-world assets (RWAs) represent a $30 trillion market opportunity globally, Colin Butler, Polygon’s global head of institutional capital, told Cointelegraph in an interview.

Adoption will largely be driven by high-net-worth individuals dramatically increasing portfolio allocations to alternative assets — such as private credit — as tokenization brings liquidity and accessibility to historically illiquid asset classes.

“The idea is that there are $300 trillion in global assets, half of which—$100 trillion—are owned by individuals with net worths between $1 million and $30 million” whose portfolio allocations to alternative assets are often negligible, Butler said.

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Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

Bitwise enters European market with acquisition of ETC Group

Coin Telegraph
Bitwise enters European market with acquisition of ETC Group
bitcoin etf

The acquisition adds nine European-listed crypto ETPs to Bitwise’s portfolio and raises its assets under management to over $4.5 billion.

San Francisco-based asset manager Bitwise has entered the European markets with the acquisition of crypto investment firm ETC Group. The financial details of the deal were not disclosed by the companies.

According to an Aug. 19 announcement, the London-based firm ETC Group has over $1 billion in assets under management with a portfolio of products that includes a physical range of crypto exchange-traded products (ETPs), including Bitcoin ETP (BTCE), Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP), and the MSCI Digital Assets Select 20 (DA20).

In total, the acquisition adds nine European-listed crypto ETPs and raises Bitwise’s assets under management to above $4.5 billion.

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Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

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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Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

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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Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

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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Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

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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Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

Morgan Stanley discloses $188M in BlackRock Bitcoin ETF holdings

Coin Telegraph
Morgan Stanley discloses 8M in BlackRock Bitcoin ETF holdings
bitcoin etf

The investment firm disclosed to the SEC that it held more than 5.5 million shares of the iShares Bitcoin Trust in the second quarter of 2024.

United States investment banking firm Morgan Stanley revealed that as of June 30, it held roughly $188 million worth of shares in BlackRock’s iShares Bitcoin Trust exchange-traded fund (ETF).

In an Aug. 14 filing with the US Securities and Exchange Commission (SEC), Morgan Stanley reported holding more than 5.5 million shares of the iShares Bitcoin Trust (IBIT) in the second quarter of 2024, worth $188 million. The firm also disclosed investments under $300 each in shares of a Valkyrie ETF Trust with exposure to Bitcoin (BTC) and Ether (ETH), the Fidelity Wise Origin Bitcoin Fund (FBTC), Bitcoin Depot, Bitwise’s Bitcoin ETF, Invesco Galaxy Bitcoin ETF, and Proshares Bitcoin Strategy ETF.

The Q2 2024 investments came before Morgan Stanley announced it would allow its financial advisers to recommend Bitcoin ETFs to clients, explicitly highlighting IBIT and FBTC. In response to the notice, former SEC official John Reed Stark suggested the investment firm could subject its advisers to “what will likely become the largest SEC and FINRA examination sweep in history.”

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Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

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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Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

Crypto ETFs will expand to new asset types, indexes — Grayscale executive

Coin Telegraph
Crypto ETFs will expand to new asset types, indexes — Grayscale executive
bitcoin etf

The pace of adoption of crypto exchange-traded funds in the United States has been surprising even to Grayscale.

The market for cryptocurrency exchange-traded funds (ETFs) will expand to encompass new types of digital assets as well as diversified crypto indexes, according to an executive at asset manager Grayscale Investments. 

“We're going to see a number of more single asset products, and then also certainly some index based and diversified products,” Dave Lavalle, Grayscale’s global head of ETFs, said during an Aug. 12 webinar.

Grayscale is among the largest issuers of crypto ETFs, with upward of $25 billion in assets under management (AUM) across its United States-listed crypto ETFs. Its US exchange-traded products currently comprise single-asset Bitcoin (BTC) and Ether (ETH) funds.

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Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

Stocktwits and Spot.dog Partner to Simplify Solana Meme Coin Purchases

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