Bitpush editor selects Web3 news for you every day:
[Franklin Templeton submits S-1 filing to the US SEC for new crypto index ETF]
Asset management firm Franklin Templeton is looking to launch a new exchange-traded fund (ETF) designed to be a one-stop cryptocurrency portfolio, according to an S-1 filing filed with the SEC on August 16. The Franklin Crypto Index ETF will track the performance of the CF Institutional Digital Asset Index, which currently only includes Bitcoin and Ethereum.
“The fund will achieve its investment objective by investing in digital assets in substantially the same weight as the underlying index,” the filing said, adding that the ETF could hold other types of cryptocurrencies in the future.
[Funds managing at least $100 million in equity assets in Q2 held a total of $4.7 billion worth of spot Bitcoin ETFs]
This week, institutional investment managers with at least $100 million in equity assets under management filed 13F reports with the U.S. Securities and Exchange Commission. According to the reports, these hedge funds held a total of $4.7 billion worth of spot Bitcoin ETFs as of the end of the second quarter.
13F reports are filed four times a year. These documents are required to be filed within 45 days after the end of each quarter and provide information about fund managers’ stock holdings, but do not disclose any short positions. 13F reports allow investors to understand how the largest portfolios and some of the most influential fund managers operate the market.
Trump appoints Tether custodian Cantor Fitzgerald CEO Howard Lutnick to lead transition team
Former U.S. President Trump announced the leadership of his transition team on Friday, which will guide policy and personnel work before Trump returns to the White House, The Hill reported.
Trump appointed Cantor Fitzgerald CEO Howard Lutnick to lead his transition team. According to Tether CEO Paolo Ardoino , Cantor Fitzgerald has served as Tether's custodian since the end of 2021. Lutnick will serve as co-chair with former U.S. Small Business Administration Director Linda McMahon. According to multiple reports, if Trump is elected, his vice presidential candidate JD Vance and Trump's sons Donald Trump Jr. and Eric Trump will serve as honorary chairmen.
[ Coinbase : Increased institutional funds flowing into spot Bitcoin ETFs is a "promising" indicator]
According to Coinbase’s weekly market report, the latest 13F filings for U.S. spot Bitcoin exchange-traded funds (ETFs) show signs of growing institutional interest in the digital asset. “An increasing portion of these flows appear to be driven by institutions, with institutional holdings rising from 21.4% to 24.0%,” the report said.
The report highlighted increased institutional inflows into the “investment advisor” category. These advisors manage large amounts of money and typically make decisions on asset allocation, investment strategy, and specific security purchases on behalf of their clients. “We believe that continued inflows into spot Bitcoin ETFs during periods of Bitcoin underperformance may be a promising indicator of continued interest in cryptocurrencies from new pools of capital that ETFs can access,” said Coinbase analysts David Duong and David Han.
[Norway's sovereign wealth fund increases indirect investment in Bitcoin]
According to K33 Research, the Norwegian Sovereign Wealth Fund (NBIM) currently holds 2,446 BTC indirectly through investments in technology companies that hold cryptocurrencies.
Since December 31, 2023, its holdings are worth just over $143 million, an increase of 938 BTC.
[ JPMorgan analyst: Bitcoin mining profitability fell to historic low in August]
According to CoinDesk, JPMorgan analysts pointed out that as network computing power increased in the first two weeks of August, Bitcoin mining profitability fell to an all-time low. Despite this, the network computing power share of US listed miners rose to 26%, a new high. JPMorgan also said that the Bitcoin network computing power has increased by about 1% since August, reaching an average of 621 EH/s, but it is still 30 EH/s lower than before the halving. In addition, the price of Bitcoin has fallen by about 5% since the halving, but it is still up 35% since the beginning of the year, a year-on-year increase of 104%.
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