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Morgan Stanley holds $188 million in BlackRock Bitcoin ETF in the second quarter of 2024
Morgan Stanley reported in an Aug. 14 filing with the U.S. Securities and Exchange Commission (SEC) that it held approximately $188 million worth of the BlackRock iShares Bitcoin Trust exchange-traded fund (ETF) as of June 30, 2024.
Morgan Stanley said that in addition to its investment in BlackRock products, it also holds about $148,000 worth of Grayscale Bitcoin Trust (GBTC) shares and $1.6 million worth of Ark 21Shares Bitcoin ETF shares.
[The US government transferred 10,000 BTC related to Silk Road to Coinbase Prime, worth $593.9 million]
Arkham data shows that the US government transferred 10,000 BTC related to Silk Road to Coinbase Prime, worth $593.9 million.
Data shows that wallet bc1ql received 10,000 BTC from a US government wallet two weeks ago, and this BTC has just been transferred to Coinbase Prime deposit wallet 33J.
Analysts said deposits to exchanges typically indicate an intent to sell assets, but in this case the transfer was likely for custody reasons, as the U.S. Marshals Service, an agency under the U.S. Department of Justice, announced a partnership with Coinbase Prime last month to “safeguard and trade” large digital assets.
[ Marathon Digital Holdings increased its holdings of 4,144 bitcoins for $249 million, with a total holding of more than 25,000 bitcoins]
Marathon Digital Holdings (MARA) announced that it has completed the issuance of $300 million 2.125% convertible senior notes (due in 2031). In addition, between August 12, 2024 and August 14, 2024, MARA used the proceeds from the sale of the notes to purchase approximately 4,144 bitcoins for approximately $249 million in cash at an average price of approximately $59,500 per bitcoin, bringing its total BTC holdings to more than 25,000.
[Fidelity executives: The team is researching stablecoins, tokenized treasury bonds, and on-chain credit]
Cynthia Lo Bessette, head of Fidelity Digital Asset Management, said the firm’s digital asset management division is looking into tokenization, including stablecoins in addition to on-chain treasuries and credit.
Lo Bessette said stablecoins are an obvious area where tokenization has value, suggesting the company may be considering launching its own product. “We are looking at and evaluating the projects we have seen in the market, and we think stablecoins are certainly an obvious use case from the perspective of representing tokenized cash,” she said. “The next direction after stablecoins is tokenized treasury products. After that, we have seen a lot of interesting project work in the credit and structured products space, which we are also looking at.”
Additionally, Bessette is generally pleased with the market’s reaction to ETFs tracking bitcoin and ether, but she’s not sure there’s enough demand for Altcoin ETFs just yet.
[ Vanguard CEO says the company does not plan to launch a cryptocurrency ETF]
Vanguard CEO Salim Ramji said in an interview with ETF.com that the company does not plan to launch a cryptocurrency exchange-traded fund (ETF). He said: "I will not follow my competitors. A company must be consistent, but I hope there will be more innovation... Vanguard has had active funds since its inception and is one of the largest active management companies. Jack Bogle's 'cost first hypothesis' is something we always keep in mind. We will not launch a cryptocurrency ETF."
Salim Ramji took over as Vanguard CEO last month after a decade in senior leadership roles at BlackRock, where he most recently served as global head of iShares and index investing, responsible for managing the majority of the firm’s client assets and growing the iShares platform.
Fireblocks obtains New York State cryptocurrency custody license
Web3 infrastructure provider Fireblocks announced that it has obtained a New York State cryptocurrency custody license to custody cryptocurrencies for US customers.
“As of this month, Fireblocks Trust Company, LLC has received a limited purpose trust company charter to engage in the virtual currency business and will soon begin offering cold custody solutions powered by Fireblocks technology to U.S. customers,” Fireblocks said in a statement.
Fireblocks joins a growing list of institutional cryptocurrency firms authorized by the New York Department of Financial Services to custody assets, including Coinbase Custody Trust, Fidelity Digital Asset Services and PayPal Digital, according to the New York Department of Financial Services.
[ IntoTheBlock : USDT exchange outflow exceeded 1 billion US dollars yesterday, BTC may fall]
IntoTheBlock data showed that more than $1 billion in Tether stablecoin USDT was withdrawn from cryptocurrency exchanges on Tuesday, the largest single-day withdrawal since May.
Analysts noted that the current price action "feels very similar to Bitcoin's action last year," when Bitcoin went sideways for two months after a sharp drop in August. IntoTheBlock analysts said: "Historically, Bitcoin began to decline shortly after USDT withdrawals exceeded $1 billion, indicating that investors may be taking a risk-averse stance and moving funds to safer environments such as cold wallets to cope with market volatility."
Author: BitpushNews Mary Liu
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