Mar 12, 2021 11:36 GMTCrypto News
Grayscale is positioning itself for the possibility of a Bitcoin ETF with nine new related job positions.
The SEC is considering several Bitcoin ETFs but maintains the volatility and market manipulation are obstacles.
Bitcoin has been rejected at $58,000 and is seeking support towards $54,000.
Grayscale Investments has become one of the most prominent institutions in the cryptocurrency industry. The company’s latest job advertisement could give an insight into what to expect soon. The firm’s LinkedIn profile has listed at least nine exchange (ETF)-traded fund-related job openings.
Grayscale new job listings point to a crypto ETF
Major Israeli Investment House Invested $100 Million in the Grayscale Bitcoin Trust Fund in December 2020
One of the biggest asset managers in Israel allocated millions of dollars into the shares of Grayscale’s Bitcoin Trust (GBTC). Altshuler Shaham is now gaining exposure to bitcoin by investing $100 million in shares, according to a local media outlet.
Altshuler Shaham Currently Holds $150M Worth in BTC
Per Globes Israel, the multi-million-dollar investment yielded a return of almost 100%. That’s because the exposure was made by the investment house in December 2020, when bitcoin (BTC) prices were hovering around the $21,000 level.
Afterward, Altshuler Shaham took profits when BTC hit new all-time highs in February. According to Global, the investment house closed its position on about a third of its holdings in GBTC fund.
Can Momentum and Liquidity Overcome Higher Interest Rates? The stronger the economy, the better it is for earnings, but more likely it will pressure multiples as interest rates rise.
Mar 12, 2021 | 11:27 AM EST
After great action on Thursday, stocks are mixed today. Breadth is running 3000 gainers to 4650 decliners, but new highs are still robust at over 900. The pockets of momentum have slowed substantially within a much shorter list of stocks moving up more than 10%. Speculation in the bitcoin group has slowed, and there aren t any strong themes working right now.
This sort of pause after a strong move is generally healthy. Stocks need to consolidate to build a foundation for higher prices, but what is different this time is that the action is so sensitive to higher interest rates. Aggressive traders want to ignore the bond market and interest rates, but the correlation between the 10-year bond and the indices is extremely strong right now.