tl;dr
Up to 60% of top US hedge funds now hold Bitcoin ETFs, a significant increase since May, indicating growing institutional adoption of crypto. The approval of Bitcoin ETFs by the US SEC in January has provided institutional investors direct access to the crypto market. Notably, large institutions wit...
Up to 60% of top US hedge funds now hold Bitcoin ETFs, showing rising institutional adoption. The approval of Bitcoin ETFs by the US SEC in January has provided institutional investors direct access to the crypto market. Large institutions with over $1 billion in assets under management increased Bitcoin exposure in Q2, reflecting growing confidence in Bitcoin among major financial players. Institutions have capitalized on the recent market correction, buying the dip and showing sustained interest.
BlackRock’s Bitcoin holdings are approaching 350,000 BTC, with other issuers actively exploring expansion opportunities. Concerns exist that ETFs may contradict crypto’s decentralized ethos, leading to more traditional stock-like trading.
Sam Baker, a research analyst at BTC-focused firm River, notes that 60% of the largest US hedge funds now hold Bitcoin ETFs. Citadel Investments, Millennium Management, Mariner Investment, and Fortress Investment are among the firms that added more shares in Q2. Additionally, 13 out of the 25 top registered investment advisors (RIAs) in the US now have Bitcoin exposure through ETFs.
Further, large institutions with over $1 billion in assets under management (AUM) have continued to increase their Bitcoin exposure. In Q2 alone, the number of registered investment advisors (RIAs) with a Bitcoin allocation grew by 18%, while the number of hedge funds holding Bitcoin increased by 46%.
For hedge funds, the surge to 60% marks a notable increase, up 8% since May. Institutions have capitalized on the recent market correction, buying the dip and showing sustained interest. Amid this growing interest, BlackRock’s Bitcoin holdings are approaching 350,000 BTC, ranking just behind pseudonymous Bitcoin creator Satoshi Nakamoto and Binance.
Despite the role of ETFs in adding legitimacy to crypto, some argue that these financial instruments sidestep Satoshi’s vision, potentially leading to the trading of Bitcoin and other cryptocurrencies more like traditional stocks under Wall Street’s influence, diluting the core principles of decentralization.
More about Cboe Global Markets Inc
Cboe Global Markets Inc
Cboe Global Markets is an American company that owns the Chicago Board Options Exchange and the stock exchange operator BATS Global Markets.
Industry: FINANCE, SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES
Market Cap: 21,556,697,000
Current Price: $28.53
Price Change: $2.20
Percentage Change: 7.22%
52-Week Range: $36.07
PE Ratio: 0.202
Volume: 3,808,700,000
EPS: $201.67
Dividend Yield: -0.153
Beta: 0.073
More about United States Steel Corporation
United States Steel Corporation Summary
United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.
Industry: MANUFACTURING
Sub-Industry: STEEL WORKS, BLAST FURNACES & ROLLING MILLS (COKE OVENS)
Employees: 88410
Market Cap: $6.00B
Price: $17.16
Change: $0.2
Change (%): 2.29%
52-Week Range: $7.5 - $31.31
EPS: $0.034
Shares Outstanding: 1.6853B
Revenue: $16.853B
PE Ratio: 45.45
Beta: -0.617
Dividend Yield: -0.178%
More about Tanzanian Royalty Exploration Corp
```html
Tanzanian Royalty Exploration Corp, Tanzanian Gold Corporation is engaged in the exploration and development of mineral property interests in the United Republic of Tanzania. The company is headquartered in Vancouver, Canada.
ENERGY & TRANSPORTATION
GOLD AND SILVER ORES
Market Cap: 105,707,000
Dividend Yield: None
Beta (5Y Monthly): None
Price: 0.127
EPS: -0.0306
Volume: 36,723,000
P/E Ratio: 1.38
Forward P/E: 2.549
P/B Ratio: 0.625
```