- 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 price woes over the previous few weeks.
Capula Administration, the fourth largest funding supervisor in Europe, holds practically $500 million in spot Bitcoin ETFs.
In accordance with paperwork filed with the US Securities and Change Fee, the hedge fund supervisor has acquired $253 million of BlackRock’s iShares Bitcoin Belief (IBIT) and $211 million value of Constancy’s Smart Origin Bitcoin (FBTC) ETF.
Capula reveals its spot ETF holdings at a time the market is battling price downward stress.
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 grew to become the primary main financial institution on Wall Avenue to permit monetary advisors to pitch spot Bitcoin ETFs to its shoppers.
Information on by Arkham additionally confirmed that main holders of BTC, together with MicroStrategy, BlackRock, Constancy and Grayscale haven’t bought their BTC belongings regardless of the market losses.
Bitcoin price
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 known as for the Fed to slash its fund fee by 75 foundation factors and one other related reduce at its subsequent assembly in September.
“I’m calling for a 75 basis point emergency cut in the Fed funds rate, with another 75 basis point cut indicated for next month at the September meeting – and that’s minimum,” says Wharton’s Jeremy Siegel: pic.twitter.com/s4CgWx962Q
— Squawk Field (@SquawkCNBC) August 5, 2024
In accordance with Polymarket bets, bettors are seeing a 29% probability the Fed takes an emergency rate of interest reduce.