Bitcoin ETF: Europe’s Capula Management Discloses $500 Mln Holding
Highlights
- Capula Management has joined Bitcoin ETF HODLers with almost $500 million exposure
- This keeps with similar trend in previous quarters where top firms made related disclosures
- This update comes as the market selloff intensified today
The cryptocurrency industry keeps seeing more institutional organizations dive into the sector through spot Bitcoin ETF products. The introduction of spot Bitcoin and Ethereum ETFs in the United States now serves as a vehicle for these institutional investors to obtain a slice of the digital asset ecosystem. Global investment asset manager Capula Management recently revealed that its financial portfolio now contains crypto.
Institutional Investors in the Crypto Landscape
The company, which is touted as Europe’s fourth-largest investment manager, stated that it has approximately $500 million in spot Bitcoin ETFs. Noteworthy, a significant percentage of this holding is in Fidelity’s FBTC and BlackRock’s IBIT.
According to a filing submitted to the United States Securities and Exchange Commission, Capula Management own FBTC worth about $211 million. It also has $253 million in BlackRock’s spot Bitcoin ETF and this brings the total to $464 million. To a significant extent, this investment reflects the increasing acceptance and adoption of crypto solutions particularly Bitcoin amongst institutional investors and the traditional financial sector.
It is likely that the SEC’s approval of these crypto products brought reassurance and accessibility to these investors. The approval promotes a level of confidence to investors, assuring them of the highly regulated nature of the market. Even the recent Bitcoin price fluctuation of the underlying cryptocurrency has not successfully prevented institutional investors from taking a move on the market.
MicroStrategy Remains Optimistic About Bitcoin
The state of the crypto market is quite unexpected, with the price 0f many digital assets including Bitcoin bleeding terribly. It is worth noting that popular economist Peter Schiff had earlier predicted that there could be a 15% gap down for spot Bitcoin ETFs on Monday.
Despite this outlook, MicroStrategy Chairman Michael Saylor says he will continue to HODL his Bitcoin holdings with Diamond hands. So far, the firm has a total of about 226,500 BTC in its portfolio.
As part of its Bitcoin acquisition strategy, MicroStrategy may seize this opportunity of a price drop to increase its Bitcoin holding. Already, it announced during its last week’s Q2 results that MicroStrategy is looking to raise an additional $2 billion in cash to buy more BTC.
While this MicroStrategy Bitcoin strategy has enticed several firms to take a slice of the crypto market, many others may even make a decision in this direction soon.
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