Michael Burry, the investor made famous by The Big Short movie, has taken out a major short position against Cathie Wood’s Ark Innovation exchange-traded fund (ETF). According to second-quarter 13F filings from the United States Securities and Exchange Commission, Burry’s hedge fund, Scion Asset Management, has purchased $31 million worth of bearish put options against 235,000 shares of the ETF. Put options are a way of profiting from the decline in value of a stock or fund. The Innovation ETF is the largest Ark fund with $22.62 billion in assets. It invests in a range of disruptive technology companies, including …

Bitcoin (BTC) is getting compared to late 2020, but this rally in fact has several major differences that make it “not normal.” According to Pete Humiston, manager of Kraken Intelligence Research, Bitcoin in Q3 2021 is a different beast when compared to Q4 2020. GBTC keeps its steep discount Despite going from $29,000 to $48,000 in just one month, Bitcoin is still not seeing a frenzy of interest and buying. Higher price levels have seen solid support, but there is little evidence of the kind of demand that characterized the start of this year or the end of the last. …

New filings with the United States Securities and Exchange Commission reveal that four wealth management companies have acquired shares of Grayscale’s Bitcoin (BTC) investment trust, offering further evidence of institutional adoption of digital assets. As first reported by MacroScope — a Twitter feed devoted to institutional trading and asset management — the firms disclosed their GBTC holdings in new filings for the period ending June 30. Clear Perspective Advisors, an Illinois-based wealth manager, revealed direct ownership of 7,790 GBTC shares on Friday. In an SEC filing today, Clear Perspective Advisors, a wealth management firm in Aurora, Illinois, reported owning 7,790 …

After a 13% rise in two days, Bitcoin’s (BTC) market capitalization surpassed $800 billion to reach its highest value in 79 days. During the same timeframe, Ether (ETH) accumulated a 45% gain in two weeks, placing the network’s market cap at $340 billion. Positive expectations for the London hard fork and its potential deflationary effect undoubtedly played a role, but some investors continue to question how Ether’s valuation stacks against Bitcoin’s. Some, including Pantera Capital CEO Dan Morehead, expect Ether to outpace Bitcoin as the largest cryptocurrency. Market participants may have also been excited after Federal Reserve Bank of Minneapolis …

JPMorgan Chase quietly opened up access to six crypto funds over the past three weeks as it looks to offer crypto exposure to a variety of clients. In the latest move, the bank’s private clients will now have access to a new Bitcoin fund created by crypto investment firm New York Digital Investment Group (NYDIG). NYDIG is owned by Stone Ridge Asset Management and the “Stone Ridge Bitcoin Strategy Fund” offers exposure to Bitcoin via futures markets. The NYDIG fund is in addition to five crypto funds that the bank opened access to last month: Grayscale Investments’ Grayscale Bitcoin Trust, …

The Grayscale Bitcoin Trust (GBTC) is echoing bullish sentiment in Bitcoin (BTC) as its premium over spot price rises to its highest since May. Data from analytics resource Bybt shows that on Tuesday, the so-called Grayscale premium stood at -5.88%. The last time it was closer to zero was on May 25. GBTC premium slips above -6% That was a week after Bitcoin began a major price drawdown, which this week has finally shown signs of abating. GBTC has been the subject of intense speculation since Bitcoin’s 55% price dip, with unlocking of GBTC shares allegedly capable of adding to …

As the price of Bitcoin returned to more than $32,000 this week, some major firms announced they had increased their exposure to cryptocurrencies through Grayscale’s crypto trusts. According to a Friday filing with the U.S. Securities and Exchange Commission, or SEC, New York-based investment firm Edge Wealth Management currently holds 54,134 shares of Grayscale’s Bitcoin Trust (GBTC), valued at $27.13 at the time of publication, and 25,280 shares of the company’s Ethereum Trust (ETHE). The crypto holdings are worth almost a combined $2 million at $1,468,655 and $466,668, respectively, roughly 0.3% of the $703 million total assets under management the …

Bitcoin (BTC) is rebounding despite the ongoing Grayscale Bitcoin Trust (GBTC) unlocking events — and most shares are already released. According to data from tracking resource Bybt, the remaining unlockings combined involve fewer shares than those released on just one day last weekend. Putting an end to GBTC “FUD” Sunday saw around 16,240 BTC worth of GBTC shares end their six-month lock-up period. The largest such release in a single day, the event saw a hefty build-up, with arguments raging over its likely impact on the Bitcoin price. Monday’s BTC price dip was timely when it came to GBTC, fitting …

Billion-dollar investment firm Rothschild Investment Corp quadrupled its exposure to Bitcoin (BTC) since April, new records show. In a filing with the United States Securities and Exchange Commission (SEC) on Saturday, Rothschild confirmed that it now owns 141,405 shares of the Grayscale Bitcoin Trust (GBTC). Rothschild GBTC shares near 150,000 A quiet but nonetheless substantial player among institutions, Rothchild Investment Corp has also invested in Grayscale’s Ether (ETH) equivalent, the Grayscale Ethereum Trust. Its exposure to Bitcoin has increased considerably this year, the filing shows — in April, its GBTC shares totaled 38,346. In BTC terms, with each GBTC share …

Michael Sonnenshein, CEO of digital asset management giant Grayscale, has announced a new investment vehicle for the firm targeted at decentralized finance (DeFi) assets. Sonnenshein announced Grayscale’s planned DeFi Fund and index during an appearance on CNBC’s Squawk Box. Detailing the purpose of the new product, the Grayscale CEO said the fund would offer exposure to DeFi assets, such as Uniswap (UNI) and Aave, for its institutional clients. According to the Grayscale chief, the decision to create a DeFi fund, the firm’s 15th crypto investment product, was due to the growing interest in popular crypto assets in the decentralized finance …

Bitcoin (BTC) bears should watch out for a potential blow as the number of margined short positions on the Bitfinex exchange crashes by roughly 25%. The dataset dropped to 11,066 BTC as of 12:20 GMT Saturday, compared to 14,897 BTC at the session's open. Meanwhile, the drop came as a part of a bigger downside move that started on July 15. On the day, the total number of margined short positions had reached 17,053 BTC. In simple terms, BTCUSDSHORTS represents the number of margined bearish positions on Bitfinex, measured in BTC. Traders borrow funds from Bitfinex — their broker — …

A Canada-based Bitcoin fund, operated by 3iQ Corp, has witnessed a dramatic decline in its BTC reserves since June. Literally named the Bitcoin Fund (QBTC:CN), the closed-end investment product, was holding around 24,000 BTC in its vaults in early June. However, as the monthly session progressed, the reserves first dropped to below 16,000 BTC in a dramatic, straight-line decline. Later, another massive withdrawal pushed the Bitcoin Fund's BTC reserves to around 13,000 BTC, according to on-chain data from South Korea-based analytics firm CryptoQuant. However, the withdrawals from the QBTC fund across June coincided with an inflow spike in 3iQ's exchange-traded …