Latest news with #FarsideInvestors
Yahoo
3 days ago
- Business
- Yahoo
Grayscale Files IPO Registration as Bitcoin Tops $120,000
Grayscale Investments filed a confidential draft registration statement with the Securities and Exchange Commission for an initial public offering, the crypto asset manager announced Monday. The filing comes during what lawmakers have dubbed "Crypto Week" in the House of Representatives, where three key bills aimed at reshaping U.S. crypto policy are advancing through votes this week. The IPO filing puts Grayscale in position to benefit from clearer crypto rules as Congress weighs new legislation, building on the firm's history of fighting regulators that helped create spot Bitcoin ETFs, which have pulled in $52.3 billion in net inflows since their January 2024 launch, according to Farside Investors. Grayscale Investments did not disclose the number of shares or price range for the proposed registration in its announcement Monday morning. The registration is expected to take place after the SEC completes its review process, subject to market and other conditions, according to the filing. The timing coincides with renewed crypto market momentum, with Bitcoin trading over $120,000 and Ethereum near $3,020 as of midday Monday, according to CoinMarketCap. Bitcoin surged early Monday morning and briefly touched an all-time high above $123,000. The asset manager faces ongoing regulatory challenges. Last week, Grayscale's lawyers publicly contested the SEC's decision to pause approval of its Digital Large Cap Fund ETF, citing a missed statutory deadline, according to a letter sent by the firm. Amid these regulatory challenges, Grayscale updated its "Assets Under Consideration" list on July 10, exploring new crypto products including Aptos, Arbitrum, Mantle and Toncoin, according to the company. The firm's 2022 lawsuit that compelled a court to overturn an SEC denial was pivotal in establishing spot Bitcoin ETFs. This legal victory strengthened Grayscale's position, with lawmakers now advancing the GENIUS Act, CLARITY Act and Anti-CBDC Surveillance State Act through House votes this week. The three bills advancing through House votes this week would reshape crypto regulation. The GENIUS Act establishes a federal framework for stablecoins with reserve requirements and issuer licensing. The CLARITY Act clarifies whether the SEC or Commodities Futures Trading Commission (CFTC) oversees different digital assets, while the Anti-CBDC Surveillance State Act would prohibit the Federal Reserve from issuing a central bank digital | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
Bitcoin rally driven more by institutional demand than speculation
July 14 (Reuters) - As bitcoin hit a record high on Monday, evidence from institutional flows and derivatives suggested its rally might be more stable and lasting than previous speculative runs. Bitcoin crossed $120,000 for the first time on optimism over upcoming U.S. House discussions on digital asset regulation, extending its gains this year to about 30%. The rise has been fuelled by strong flows into bitcoin exchange-traded funds (ETFs) and rising corporate treasury allocations. Analysts said bitcoin's surge is driven this time by institutional flows and reflects its evolution into a more stable asset, sought after as investors seek diversification from market volatility and a wobbly U.S. dollar. Institutional inflows tend to be longer-term and less prone to rapid reversal, lending greater stability and durability to the current rally. Bitcoin ETFs have made a strong start to July, attracting $3.4 billion in inflows so far. That includes a record $2.2 billion over the past two days, the largest two-day net inflow on record, according to data from Farside Investors. At the same time, open interest in bitcoin futures rose to a record $57.4 billion as of Friday, data from CoinDesk shows. Open interest tracks the total value of outstanding futures contracts, and a sustained rise often points to greater institutional involvement, as larger investors tend to hold bigger, longer-term positions and use futures for hedging. Yet, funding rates in the futures market remain subdued. According to CoinDesk, the annualised funding rate stood at 10%, well below the 80% peaks of 2023 and 40% at the end of last year. The funding rate reflects the cost traders pay to keep bullish, leveraged bets open in the futures market. A decline signals they're less willing to pay to stay in those positions — a sign of reduced speculative demand. Glassnode data shows bitcoin's estimated leverage ratio has declined to 0.25, down from 0.32 at the start of 2025. The leverage ratio compares how large traders' futures bets are relative to the amount of bitcoin on exchanges. A lower ratio means those bets are backed by more real capital and less borrowed money. Glassnode data also showed an increase in short liquidations as traders betting against bitcoin bought back the token as prices rose, adding momentum to the rally.
Yahoo
3 days ago
- Business
- Yahoo
Bitcoin rally driven more by institutional demand than speculation
By Patturaja Murugaboopathy (Reuters) -As bitcoin hit a record high on Monday, evidence from institutional flows and derivatives suggested its rally might be more stable and lasting than previous speculative runs. Bitcoin crossed $120,000 for the first time on optimism over upcoming U.S. House discussions on digital asset regulation, extending its gains this year to about 30%. The rise has been fuelled by strong flows into bitcoin exchange-traded funds (ETFs) and rising corporate treasury allocations. Analysts said bitcoin's surge is driven this time by institutional flows and reflects its evolution into a more stable asset, sought after as investors seek diversification from market volatility and a wobbly U.S. dollar. Institutional inflows tend to be longer-term and less prone to rapid reversal, lending greater stability and durability to the current rally. Bitcoin ETFs have made a strong start to July, attracting $3.4 billion in inflows so far. That includes a record $2.2 billion over the past two days, the largest two-day net inflow on record, according to data from Farside Investors. At the same time, open interest in bitcoin futures rose to a record $57.4 billion as of Friday, data from CoinDesk shows. Open interest tracks the total value of outstanding futures contracts, and a sustained rise often points to greater institutional involvement, as larger investors tend to hold bigger, longer-term positions and use futures for hedging. Yet, funding rates in the futures market remain subdued. According to CoinDesk, the annualised funding rate stood at 10%, well below the 80% peaks of 2023 and 40% at the end of last year. The funding rate reflects the cost traders pay to keep bullish, leveraged bets open in the futures market. A decline signals they're less willing to pay to stay in those positions — a sign of reduced speculative demand. Glassnode data shows bitcoin's estimated leverage ratio has declined to 0.25, down from 0.32 at the start of 2025. The leverage ratio compares how large traders' futures bets are relative to the amount of bitcoin on exchanges. A lower ratio means those bets are backed by more real capital and less borrowed money. Glassnode data also showed an increase in short liquidations as traders betting against bitcoin bought back the token as prices rose, adding momentum to the rally. (Reporting By Patturaja Murugaboopathy in BengaluruEditing by Vidya Ranganathan and Jane Merriman)
CNA
3 days ago
- Business
- CNA
Bitcoin rally driven more by institutional demand than speculation
As bitcoin hit a record high on Monday, evidence from institutional flows and derivatives suggested its rally might be more stable and lasting than previous speculative runs. Bitcoin crossed $120,000 for the first time on optimism over upcoming U.S. House discussions on digital asset regulation, extending its gains this year to about 30 per cent. The rise has been fuelled by strong flows into bitcoin exchange-traded funds (ETFs) and rising corporate treasury allocations. Analysts said bitcoin's surge is driven this time by institutional flows and reflects its evolution into a more stable asset, sought after as investors seek diversification from market volatility and a wobbly U.S. dollar. Institutional inflows tend to be longer-term and less prone to rapid reversal, lending greater stability and durability to the current rally. Bitcoin ETFs have made a strong start to July, attracting $3.4 billion in inflows so far. That includes a record $2.2 billion over the past two days, the largest two-day net inflow on record, according to data from Farside Investors. At the same time, open interest in bitcoin futures rose to a record $57.4 billion as of Friday, data from CoinDesk shows. Open interest tracks the total value of outstanding futures contracts, and a sustained rise often points to greater institutional involvement, as larger investors tend to hold bigger, longer-term positions and use futures for hedging. Yet, funding rates in the futures market remain subdued. According to CoinDesk, the annualised funding rate stood at 10 per cent, well below the 80 per cent peaks of 2023 and 40 per cent at the end of last year. The funding rate reflects the cost traders pay to keep bullish, leveraged bets open in the futures market. A decline signals they're less willing to pay to stay in those positions — a sign of reduced speculative demand. Glassnode data shows bitcoin's estimated leverage ratio has declined to 0.25, down from 0.32 at the start of 2025. The leverage ratio compares how large traders' futures bets are relative to the amount of bitcoin on exchanges. A lower ratio means those bets are backed by more real capital and less borrowed money. Glassnode data also showed an increase in short liquidations as traders betting against bitcoin bought back the token as prices rose, adding momentum to the rally.
Yahoo
5 days ago
- Business
- Yahoo
Ethereum ETFs See Inflow Surge as BlackRock's ETHA Draws in Record $300M in a Day
Ethereum's ether (ETH), the second largest crypto asset, is seeing renewed investor interest, with spot exchange-traded funds (ETFs) in the U.S. recording one of their strongest streak of momentum of their one-year history. On Thursday, BlackRock's iShares Ethereum Trust (ETHA) booked its largest daily inflow to date, with over $300 million, pushing its total assets under management to $5.6 billion, data compiled by Farside Investors show. That's part of a broader resurgence in ether-backed investment products. The nine U.S.-listed ETH ETFs attracted a combined $703 million in net inflows this week, according to crypto data provider SoSoValue. Although Friday's data is still pending, it has already marked the third-strongest weekly haul since the products launched last July. Investor demand has picked up lately even as ether's price has lagged behind bitcoin this year, a new report from asset manager Fineqia noted. The AUM of ETH-backed exchange-traded products (ETPs) grew 61% faster in the first half of 2025 than the market capitalization of the underlying asset, a sign of steady inflows into the products, the report said. The report notes that ETP demand began to rebound by late April and continued into June, outpacing ETH's price gain. The capital flood helped fuel ETH's rebound to $3,000, its highest price in more than four months.
