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

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

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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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Exclusive: Fireblocks granted New York charter for crypto custody

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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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

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

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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Harris campaign is making a ‘concerted effort’ on crypto — Circle CEO

Jeremy Allaire discussed his impressions of Harris campaign representatives on crypto after attending a video call with industry leaders, White House officials, and US lawmakers.

Circle CEO Jeremy Allaire reported that representatives from Democratic presidential nominee Kamala Harris’ campaign were making efforts to better understand crypto-related policies going into the 2024 United States elections.

In an Aug. 14 CNBC interview, Allaire said that based on the passage of digital asset-related legislation in the current session of Congress, crypto appeared to be a “purple” issue — i.e., both Democratic and Republican. The Circle CEO said he attended an Aug. 8 video call with White House officials, Harris campaign representatives, and US lawmakers, where industry leaders had the opportunity to ascertain positions on digital assets.

“There is a concerted effort both from the administration and the Harris campaign to really get to know the issues, the players, the industry, the policy issues,” said Allaire. “I think what the industry is looking for very, very clearly is clear statements. Clear statements potentially from the existing White House, and clear statements from Harris as part of her economic policy agenda.”

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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Crypto could get boost from younger, tech-savvy Harris administration 

A Harris administration could be younger and more pragmatic and bring “a fresh perspective toward crypto,” some believe.

The campaign of United States presidential candidate and sitting Vice President Kamala Harris has given several signals that her administration would benefit the crypto industry.

As Harris continues to climb in the polls, industry observers are beginning to ask more questions.

Would a Harris presidency include younger advisers and political appointees who are more open to cryptocurrencies and blockchain technology — unlike the old guard of Biden, Yellen and Gensler?

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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Vivek Ramaswamy predicts Kamala Harris may adopt pro-crypto position

Both Kamala Harris and her running mate, Tim Walz, have yet to present clear policy positions on digital asset regulation in the United States.

Former 2024 presidential candidate Vivek Ramaswamy appeared on CNBC on Aug. 13, where he was asked whether he thought presidential candidate Kamala Harris would embrace the crypto industry.

Ramaswamy responded by saying that he believes “her verbiage” toward the crypto industry would change in an attempt to garner votes from the crypto community now that former President Donald Trump has turned crypto into a campaign issue.

The former Republican candidate for president said that Vice President Harris’ sincerity in pro-crypto positions should be judged by the specificity of her policy positions on crucial issues like self-custody and the leadership at the Securities and Exchange Commission. Ramaswamy told CNBC:

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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Texas Blockchain Council endorses Ted Cruz for US Senate

The junior senator from Texas has spoken at several crypto conferences about Bitcoin mining and its potential benefits for the Lone Star State’s energy grid.

The cryptocurrency and blockchain advocacy organization Texas Blockchain Council (TBC) announced it endorsed incumbent Ted Cruz for reelection in the United States Senate.

In an Aug. 12 X post, president Lee Bratcher said the TBC would endorse the junior senator as Cruz addressed a crowd at a Core Scientific mining facility in Denton, Texas. Bratcher hinted the Texas senator was knowledgeable about “Bitcoin as a tool for ensuring freedom and mining as a tool for grid stability.” In an X post at the event, Cruz said, “Crypto is the future.”

Source: Lee Bratcher

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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

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

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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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

US Democrats are ‘increasingly gravitating towards crypto’ — Poll

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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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum