MicroStrategy raises $1.01B for Bitcoin acquisitions

MicroStrategy has completed a $1.01 billion convertible note offering, allocating proceeds for Bitcoin purchases and debt repayment.

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Grayscale introduces Bittensor and Sui trust products

Grayscale has added the Bittensor protocol and the Sui network to its list of crypto investment products.

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Bitcoin holdings of publicly listed firms increased to $20B in one year: Data

A survey showed that 26% of institutional investors and wealth managers support Bitcoins use case as a reserve asset. 

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Franklin Templeton expands blockchain fund to Avalanche network

Franklin Templeton has expanded its pioneering blockchain-integrated money market fund to Avalanche, broadening institutional investor access to digital finance.

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Lido launches institutional-grade liquidity staking solution

The biggest ETH liquid staking protocol has enhanced its offering for large investors, many of whom are already its customers.

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Adviser holdings in Bitcoin ETFs rise, hedge fund stakes dip Coinbase

Investment advisers are expanding their spot Bitcoin ETF holdings, but Coinbase warns that large inflows might not be seen immediately due to the slow summer period in the United States.

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Bitcoins bull rally will continue another 350 days: Bybit

Bitcoin's 2024 bull run was mainly driven by institutional inflows, which could be the key to unlocking the next leg up.

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Bitcoin price drops below $59K as institutions stop buying stablecoins

The Bitcoin price last saw its local bottom before Tether minted $1.3 billion worth of stablecoins, which helped BTC recover over 21%.

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Bitcoin Critic Calls Institutional Demand A Myth Following Recent Price Slump

Popular Bitcoin critic Peter Schiff dismisses claims of growing institutional interest in the maiden cryptocurrency. Schiffs challenging statement comes following the recent Bitcoin market sell-off which resulted in a 10% price decline on Friday. Related Reading: Market Expert Predicts When Bitcoin Price Will Reach Its Cycle Highs Peter Schiff Claims Little Institutional Demand For Bitcoin According to blockchain analytics platform Lookonchain, the German and US governments, and defunct crypto exchange Mt. Gox have moved a combined 17,788 Bitcoin valued at $1.08 billion to exchanges since June 19.  In particular, the German government has sold parts of its BTC holdings every day since the start of July transferring out a substantial 3,000 BTC, worth around $175 million, on Thursday. The constant sell-off by the German and US authorities coupled with Mt. Gox repayments to creditors which are expected to be sold, soon resulted in massive selling pressure on BTC, forcing the tokens price down from $60,097 on Thursday to as low as $53,971 on Friday. Commenting on this event, Schiff stated in an X post on Saturday, that Bitcoins price slump demonstrated that the institutional demand for the market leader was overestimated. While the Bitcoin critic acknowledged that market sell-off contributed to the assets decline, he also emphasized the absence of a high institutional demand, which if existed, should jump at the chance to buy the massive amount of Bitcoin that has been sold. Schiffs comments are likely targeted at popular sentiments that Bitcoins institutional demand has been on the rise following the introduction of the Spot Bitcoin ETFs in January.  Notably, the market leader embarked on an upward trend in the first quarter of 2024 rising to a new all-time high of $73,750, a development which coincided with the rapid growth of the Spot Bitcoin ETF market which hit a $10 billion trading volume in March. Related Reading: Bitcoin Woes Not Over? Analyst Predicts Further Crash To $47,000 Bitcoin Poised For Market Rebound, Analyst Says In other news, popular crypto analyst Rekt Capital has postulated that Bitcoin may be preparing for a market recovery following the recent price dip. In an X post on Saturday, Rekt Capital noted that Bitcoin closed its daily trading above $56,750 allowing the token to continue to remain within the range low area of $60,600. According to the analyst, if BTC continues to cluster around the price region, it could soon launch a price rebound reaching as high as $71,000. At the time of writing, the premier cryptocurrency continues to trade at $58,189 with a 2.45% increase in the last day. However, BTCs daily trading volume remains down by 63.35% and is valued at $20.61 billion. Featured image from Market Insider, chart from Tradingview

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Spot Bitcoin ETFs see record inflows after July 4 dip

The Bitcoin price correction provided a strong opportunity for ETF investors to buy the dip.

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bitFlyer acquires FTX Japan, plans to launch crypto ETFs

The acquisition could be another step toward the first spot crypto ETF launching in Japanese markets.

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Direct client demand driving growth in BlackRock's Bitcoin ETF so far

BlackRock head of digital assets Robert Mitchnick talked ETFs with Bloombergs James Seyffart at Bitcoin 2024.

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Nansen launches industry-first Ether ETF analytics dashboard

The new Ether ETFs could also increase institutional investor participation, according to a Nansen analyst.

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Bullish Return: Institutional Investors Pour $1.44 Billion Into Crypto In One Week

Crypto investment products have experienced another week of inflows to build upon inflows witnessed in the prior week. According to data from CoinShares, digital asset investment products recorded $1.44 billion worth of inflows last week, which is a further indication of the return of bullish momentum into the crypto industry. This brings the total inflow to $1.881 billion over a two-week period after three consecutive weeks of outflows. With last weeks numbers, the total value of inflows into crypto investment funds this year now stands at a record $17.8 billion. Bullish Return Among Institutional Crypto Investors The latest data shows that crypto investment products are starting to reflect the overall change in market sentiment. As noted by CoinShares’ latest weekly report, this change into bullish sentiment has allowed digital investment products to further surpass the $10.6 billion inflow received during the 2021 bull market.  Related Reading: JPMorgan Says Crypto Liquidations Will End And Bitcoin Bull Market Will Begin, Heres When Last week’s inflows amounted to $1.44 billion, which is the 5th largest weekly inflow on record. Unsurprisingly, Bitcoin received the lion’s share of the investments. As the world’s first and largest crypto asset, Bitcoin has always been the centre of attraction among other cryptocurrencies. The cryptocurrency has also been in the spotlight for the past few months since the launch of Spot Bitcoin ETFs. A return of bullish momentum allowed Bitcoin to receive $1.35 billion last week, which is also the fifth-largest weekly inflow on record for Bitcoin. Notably, this inflow came amidst concerns about selling pressure sparked by a selloff of over 45,000 BTC by the German State of Saxony.  On the other hand, short-Bitcoin products witnessed $8.6 million worth of outflows. Short-Bitcoin products are for investors who anticipate a decline in the price of Bitcoin. With this in mind, it can be deduced that the withdrawal of short positions is a manifestation of a diminishing bearish outlook among institutional investors.  Ethereum led the altcoin market with a net inflow of $72 million, allowing it to reverse its total net inflow this year from a negative $15 million at the beginning of the week to $57 million at the end of the week. Solana exchange-traded products followed suit with a $4.4 million net inflow, a 270% reduction from $16.3 million in the prior week. At the time of writing, Solana’s total inflow this year stands at $62 million.  Litecoin, XRP, and Cardano witnessed inflows of $1.2 million, $1.0 million, and $1.2 million, respectively. Multi-asset investment products also recorded $17.2 million in inflows. Related Reading: Crypto Analyst Says Ethereum Price Is Headed To $4,000, Heres Why ETPs are still one of the best ways for institutional investors to get exposure to cryptocurrencies like Bitcoin and Ethereum. Their use has been on the rise since the beginning of the year, especially in North America. In terms of geographical location, the United States had the most inflows with $1.274 billion, Switzerland with $57.5 million, Hong Kong with $54.6 million, and Canada with $23.2 million, among others.  According to CoinShares, the total assets under management (AuM) are now at $84.713 billion. Featured image created with Dall.E, chart from Tradingview.com

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54% of institutional investors in Japan plan to invest in crypto: Survey

54% of Japanese institutional investors plan to invest in crypto over the next three years, citing portfolio diversification and high return potential as key drivers.

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Ether ETFs Lack of Staking Wont Dampen Strong Institutional Demand, 21Shares Ophelia Snyder Says

“For example, there could be months when the unstaking period is six or nine days, and that range can be so wide, it changes your liquidity requirements,” Snyder said. “And it doesn’t just jump from nine to 22 days. It actually slowly extends and if you monitor these things, there are data inputs that you [...]

The post Ether ETF’s Lack of Staking Won’t Dampen Strong Institutional Demand, 21Shares’ Ophelia Snyder Says appeared first on Crypto Breaking News.

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Crypto VC funding tops $1B for second consecutive month

Crypto venture fundraising reached $1.02 billion in April, compared to $10.9 billion in March. RootData’s website shows total funding rounds by VCs hit 161 in April, slightly down from 186 the previous month. Venture capital funding across the cryptocurrency space surpassed the $1 billion mark in April, a feat that means the industry has now […]

The post Crypto VC funding tops $1B for second consecutive month appeared first on CoinJournal.

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Bitcoin and Ethereum ETPs debut on London Stock Exchange after FCA nod

The ETPs will only be available to professional and institutional investors due to the ban on retail customers trading crypto derivatives.

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Hong Kong Bitcoin ETFs not enough to absorb US ETF selling pressure

Despite the excitement around the Hong Kong ETF debut, the inflows are only a fraction of the outflows from U.S. ETFs. Could the Bitcoin price revisit the $50,000 mark next?

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Over 600 firms reveal billions in combined investment in Bitcoin ETFs

Millennium Management is the largest Bitcoin ETF investor with a $1.9 billion investment.

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