- Capula Administration, Europe’s fourth largest hedge fund, has disclosed it holds practically $500 million in spot Bitcoin ETFs.
- The spot ETF market continues to see elevated demand regardless of Bitcoin’s worth woes over the previous few weeks.
Capula Administration, the fourth largest funding supervisor in Europe, holds practically $500 million in spot Bitcoin ETFs.
In response to paperwork filed with the US Securities and Trade Fee, the hedge fund supervisor has acquired $253 million of BlackRock’s iShares Bitcoin Belief (IBIT) and $211 million value of Constancy’s Clever Origin Bitcoin (FBTC) ETF.
Capula reveals its spot ETF holdings at a time the market is scuffling with worth downward strain.
Institutional demand for Bitcoin ETFs is nevertheless seeing elevated traction, with a number of pension funds amongst these to purchase into the digital asset funding product. In one of many largest strikes, Morgan Stanley turned the primary main financial institution on Wall Avenue to permit monetary advisors to pitch spot Bitcoin ETFs to its shoppers.
Knowledge on by Arkham additionally confirmed that main holders of BTC, together with MicroStrategy, BlackRock, Constancy and Grayscale haven’t bought their BTC property regardless of the market losses.
Bitcoin worth
On Monday, Bitcoin dipped beneath $50k to check costs seen in February. Nonetheless, BTC has bounced above $53k and the crypto market is optimistic of a possible restoration amid Fed rate of interest cuts.
Earlier within the day, Wharton professor Jeremy Siegel referred to as for the Fed to slash its fund fee by 75 foundation factors and one other related lower at its subsequent assembly in September.
“I am calling for a 75 foundation level emergency lower within the Fed funds fee, with one other 75 foundation level lower indicated for subsequent month on the September assembly – and that is minimal,” says Wharton’s Jeremy Siegel: pic.twitter.com/s4CgWx962Q
— Squawk Field (@SquawkCNBC) August 5, 2024
In response to Polymarket bets, bettors are seeing a 29% likelihood the Fed takes an emergency rate of interest lower.
