Susquehanna International Group adds $1B in Bitcoin ETFs to portfolio

May 7, 2024 Coin Telegraph

bitcoin etf

According to a filing with the U.S. SEC, Susquehanna International Group invested more than $1 billion in Bitcoin ETFs in Q1 2024.

According to a 13F-HR filing on May 7, quantitative trading firm Susquehanna International Group purchased more than $1 billion worth of shares of Bitcoin (BTC) exchange-traded funds (ETFs) in the first quarter of 2024.

The firm disclosed to the Securities and Exchange Commission ownership of 17,271,326 shares in the Grayscale Bitcoin Trust (GBTC), with a market value of approximately $1.09 billion as of March 31, 2024. Additionally, Susquehanna reported owning 1,349,414 shares of the Fidelity Wise Origin Bitcoin Fund (FBTC), valued at roughly $83.74 million on the same date.

Moreover, the firm increased its stake in the ProShares Bitcoin Strategy ETF (BITO), which gives investors exposure to Bitcoin futures contracts. According to investment research firm Fintel, Susquehanna owned 7,907,827 shares of BITO as of March 31, valued at approximately $255.42 million — up 57.59% from a February filing that listed 5,021,149 shares.

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Warren Buffett compares AI to nukes after seeing deepfake doppelganger

May 5, 2024 Coin Telegraph

Berkshire Hathaway

The financial mogul’s commentary came during Berkshire Hathaway’s annual meeting.

Berkshire Hathaway co-founder Warren Buffett recently sounded off on artificial intelligence (AI) deepfakes and the perpetuation of scammers at the company’s annual shareholder meeting.

Buffett, the ninth richest person in the world (as of April 2024), has seen his own net worth grow by some $16 billion through the first five months of 2024 alone. During the shareholders meeting held in Omaha, Nebraska he lauded the company’s growth and perseverance despite the November 2023 death of vice chairman Charlie Munger.

However, the commentary quickly turned to AI as the meeting wore on. Speaking during a Q&A session, Buffett said “I don’t know anything about AI but that doesn’t mean I deny its existence or importance or anything of the sort."

Chilling Operation Chokepoint 2.0 Revelations: Over 30 Tech Founders Allegedly Debanked

Venture capital pours $2.4B into crypto startups in early 2024

May 3, 2024 Coin Telegraph

Venture capital pours .4B into crypto startups in early 2024

Coin Telegraph

Investments in the first quarter were influenced by innovation in areas like restaking, modularity, Bitcoin layer-2 solutions, and macroeconomic factors.

After three consecutive quarters of decline, crypto and blockchain startups have witnessed a significant uptick in venture capital investment.

According to data compiled by Galaxy Research, investors injected $2.49 billion across 603 deals in the first quarter of 2024, representing a 29% increase in funding and a 68% rise in deal count from the previous quarter. A sustained recovery must be confirmed by subsequent quarters of growth, the report states, adding:

Several factors influenced this quarter’s investment dynamics, including the introduction of Bitcoin exchange-traded funds (ETFs), innovations in areas such as restaking, modularity, and Bitcoin layer-2 solutions, as well as macroeconomic factors such as interest rates.

Chilling Operation Chokepoint 2.0 Revelations: Over 30 Tech Founders Allegedly Debanked

The reasons Bitcoin price is down 11% since the halving

May 1, 2024 Coin Telegraph

bitcoin etf

Bitcoin’s current price action is “hardly a surprise” given the extraordinary bullish action leading up to the fourth halving.

The Bitcoin (BTC) price has sharply declined over the past few days, which might have triggered some concerns from those who thought Bitcoin would surge after its fourth halving.

The price of Bitcoin has dropped 11% since the fourth Bitcoin halving, which occurred on April 20, at 12:09 am UTC.

On the halving date, Bitcoin traded around $64,000. In the immediate aftermath of halving, Bitcoin saw a short rally, topping above $67,000 on April 22. But since then, Bitcoin has been gradually selling off, tumbling below $57,000 on May 1, according to CoinGecko data.

Chilling Operation Chokepoint 2.0 Revelations: Over 30 Tech Founders Allegedly Debanked

BlackRock’s Bitcoin ETF daily inflow on halt for 4 days

April 30, 2024 Coin Telegraph

bitcoin etf

While some crypto observers are concerned about IBIT’s inflow halt, others say it’s more normal than the 71-day inflow streak it has recorded.

The Bitcoin (BTC) community is increasingly concerned about BlackRock’s spot Bitcoin exchange-traded fund (ETF) halting inflows for several consecutive days for the first time since launch.

BlackRock's iShares Bitcoin Trust (IBIT), the fastest-growing spot Bitcoin ETF in the United States, has not recorded any inflows since April 24.

According to data from IBIT’s official page, the fund has held the same 274,462 BTC over the past four trading days.

Chilling Operation Chokepoint 2.0 Revelations: Over 30 Tech Founders Allegedly Debanked

Franklin Templeton launches Ethereum ETF, listed on DTCC

April 27, 2024 Coin Telegraph

Coin Telegraph

The DTCC listing of the Franklin Templeton Ethereum spot ETF does not guarantee SEC approval of the S-1 filing for a spot Ether ETF.

Asset management firm Franklin Templeton has launched its Ethereum exchange-traded fund (ETF), dubbed the “Franklin Ethereum TR Ethereum ETF” and coded as EZET. The Ethereum spot ETF has been listed on the Depository Trust and Clearing Corporation website, a significant platform for securities transactions in the United States.

The DTCC website’s Create/Redeem column lists the ETF, indicating its availability for creation and redemption. This is a crucial aspect of ETFs, as it allows for adjusting the supply of ETF shares in response to demand, helping keep the ETF’s market price close to its net asset value.

The listing of the Franklin Templeton Ethereum spot ETF on the DTCC website does not necessarily indicate that the S-1 filing submitted to the United States Securities and Exchange Commission (SEC) for a spot Ether ETF has been approved.

Chilling Operation Chokepoint 2.0 Revelations: Over 30 Tech Founders Allegedly Debanked

DTCC rules out collateral for Bitcoin-linked ETFs

April 27, 2024 Coin Telegraph

bitcoin etf

This notice means that exchange-traded funds and similar investment instruments with Bitcoin or other cryptocurrencies as underlying assets will not be assigned any collateral value.

The Depository Trust and Clearing Corporation (DTCC) — a financial services company that provides clearing and settlement services for the financial markets — stated that it will not allocate any collateral to exchange-traded funds (ETFs) with exposure to Bitcoin or cryptocurrencies and will not extend loans against them.

DTCC’s announcement states that effective April 30, 2024, the DTCC will implement changes to collateral values for specific securities during its annual line-of-credit facility renewal, potentially affecting position values in the collateral monitor.

This notice released on April 26 means that ETFs and similar investment instruments with Bitcoin (BTC) or other cryptocurrencies as underlying assets will not be assigned any collateral value, resulting in a 100% reduction in their collateral value.

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Insights from Token2049: How crypto wealth is made

April 26, 2024 Coin Telegraph

Bitcoin Price

Attendees at Token 2049 in Dubai shared their personal stories on how they became rich.

Crypto conferences are hotspots for people who accumulated vast wealth by taking advantage of the rapid growth of digital assets. At Token2049 in Dubai, United Arab Emirates, Cointelegraph's Bradley Peak caught up with attendees to uncover the secrets behind their wealth.

The stories he heard were as diverse as the people themselves. Some were lucky or smart enough to invest in Bitcoin (BTC) early on, riding its surge and cashing out at the right moment. Others proudly declared themselves as "diamond hands," holding onto their Bitcoin through thick and thin, reaping the benefits as its value soared.

In the crowd were savvy traders who navigated the complexities of financial instruments like options and futures contracts, turning their expertise into profits. And then there were the fintech entrepreneurs who had built successful ventures within the crypto space, now enjoying the rewards of their hard work.

Chilling Operation Chokepoint 2.0 Revelations: Over 30 Tech Founders Allegedly Debanked

Mainland China investors won’t be able to buy Hong Kong Bitcoin ETFs

April 26, 2024 Coin Telegraph

bitcoin etf

Mainland Chinese citizens will not be able to purchase Bitcoin and Ether ETFs in Hong Kong because mainland China banned crypto transactions years ago.

The upcoming launch of spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETF) in Hong Kong will not open up the market for investors in mainland China, according to Bloomberg data analyst Jack Wang.

Following Hong Kong’s approval of spot BTC and ETH ETFs, the three Chinese asset managers including China Asset Management, Harvest Global Investments and Bosera set the spot crypto ETFs through their Hong Kong subsidiaries on April 30.

Though the ETF issuers have close ties with mainland China, they will not be able to provide Bitcoin or Ether exposure to investors in that jurisdiction.

Chilling Operation Chokepoint 2.0 Revelations: Over 30 Tech Founders Allegedly Debanked

Boomers to pour $300B into crypto markets — Morgan Creek Capital

April 25, 2024 Coin Telegraph

Boomers to pour 0B into crypto markets — Morgan Creek Capital

bitcoin etf

Morgan Creek Capital CEO Mark Yusko believes the full impact of Bitcoin ETF adoption has yet to be realized, as boomers will continue to gain more exposure to digital assets.

Morgan Creek Capital CEO Mark Yusko anticipates massive inflows into the crypto market as baby boomers’ wealth, estimated at trillions of dollars, seeks entry into digital assets.

During an interview with The Wolf Of All Streets podcast, Yusko discussed how the introduction of Bitcoin (BTC) exchange-traded funds (ETFs) and increased interest from registered investment advisers have led to a significant shift in demand. Its full impact, however, is yet to be realized. According to Yusko:

Yusko predicted capital flows are likely to come from baby boomers — those born between 1946 and 1964 — through retirement accounts managed by advisers. According to the Investment Adviser Association, U.S. financial advisers managed $114.1 trillion in assets in 2022.

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