$25B investment firm adds ‘riskier’ Grayscale GBTC and ETHE for clients

$25B investment firm adds ‘riskier’ Grayscale GBTC and ETHE for clients

Wealthfront users will now be able to have up to 10% of their portfolios composed of the Grayscale Bitcoin and Ethereum Trusts. Bitcoin (BTC) and Ether (ETH) exposure has come to one of the world’s biggest automated investment firms. In a blog post on July 29, Wealthfront, which has $25 billion in assets, confirmed that it had […]

Bitcoin Drops After $1.6B Monthly Options Expiry

Bitcoin Drops After $1.6B Monthly Options Expiry

The “max pain point” for the July expiry was $35,000. Bitcoin faced selling pressure on Friday after Deribit, the world’s largest crypto options exchange by volume and open interest, settled monthly options contracts worth $1.6 billion. The cryptocurrency slipped from $39,800 to $38,500 after 08:00 UTC (4 a.m. ET), the designated settlement time on Deribit. A […]

Bitcoin Spike Fueled by Short Squeeze as Market Shrugs Off Tether News

Bitcoin Spike Fueled by Short Squeeze as Market Shrugs Off Tether News

According to one analyst, some $1 billion in trading positions were liquidated as prices surged. Bitcoin market analysts are speculating over what fueled the cryptocurrency’s price jump on Monday, and some of the experts say a short squeeze of heavily leveraged traders may have added to upward pressure on prices. Bitcoin and other cryptocurrencies have risen […]

Bitcoin Rebounds Above $30K; Resistance Seen at $34K

Bitcoin Rebounds Above $30K; Resistance Seen at $34K

Bitcoin (BTC) returned above $30,000 support during Asia hours as buyers reacted to oversold conditions. The next level of resistance is seen around $32,000 and $34,000 given the intermediate-term downtrend. The quick rebound above $30,000 is similar to the June 22 shakeout which preceded a brief price rally. Bitcoin was trading around $31,400 at press […]

Bitcoin Drops Below $30K for First Time in 4 Weeks

Bitcoin Drops Below $30K for First Time in 4 Weeks

Wall Street is seeing “too much froth” and current virus jitters are triggering widespread panic selling of every top performing asset, including bitcoin, said one analyst. Bitcoin dropped below $30,000, breaking below a trading range that had held for the past four weeks and potentially setting up the largest cryptocurrency for deeper price declines. The cryptocurrency […]

Bank of America Approves Bitcoin Futures Trading for Some Clients: Sources

Bank of America Approves Bitcoin Futures Trading for Some Clients: Sources

Bank of America, the second-largest bank in the U.S., has approved the trading of bitcoin (BTC, 0%) futures for some clients, according to two people with knowledge of the matter who spoke on condition of anonymity. Like most institutions, the bank has been conservative in its approach to the crypto sector, but due to the large amount of […]

SEC Further Delays WisdomTree Bitcoin ETF Decision

SEC Further Delays WisdomTree Bitcoin ETF Decision

The SEC instituted proceedings on whether to approve the WisdomTree bitcoin ETF application, effectively delaying any firm decision by a few months. The U.S. Securities and Exchange Commission (SEC) pushed a decision on WisdomTree’s bitcoin (BTC, +0.21%) exchange-traded fund (ETF) application to the autumn. In a Tuesday order launching proceedings on whether or not the agency should approve […]

US Financial Giant Capital Group Buys 12% Stake in Bitcoin-Exposed MicroStrategy

US Financial Giant Capital Group Buys 12% Stake in Bitcoin-Exposed MicroStrategy

The purchase provides the firm with indirect exposure to MicroStrategy’s more than 105,000 bitcoin reserves. Capital International Investors, a unit of Los Angeles-based investment firm Capital Group, has purchased a 12.2% stake in MicroStrategy (MSTR), a business-intelligence company that has invested heavily in bitcoin (BTC, -1.69%). According to a filing with the U.S. Securities and Exchange Commission on June […]