Latest news with #BITB
Yahoo
27-05-2025
- Business
- Yahoo
Veteran hedge fund manager claims he is 'Bit Wiser' after misstep
Josh Mandell, a longtime Wall Street trader with a track record in government bonds and short-dated options, as well as experience in leading hedge funds, has provided an interesting note this morning, offering a rare glimpse into his investment in crypto — and it has raised a few eyebrows. Mandell posted on May 27, a screenshot that showed a 2.1 million dollar position in the Bitwise Bitcoin ETF (BITB), with a "tiny" gain of $1,491.80 on the day. His post on X read, "I've made some bad choices when deciding how to invest in Bitcoin, but today I'm a Bitwiser." Bitwise is one of the largest firms providing exposure to Bitcoin via a regulated exchange-traded fund (ETF), so there is no need for traditional investors to invest in crypto assets directly, such as wallets and private keys. Mandell's investment, as shown in the image, consisted of 35,000 shares in the ETF at an average purchase price of $59.98, corresponding to a current trading price of $60.02 for BITB. A $1,491.80 gain is not notable in isolation, but concerning his $2.1 million investment capital, a 0.07% gain signals Mandell's level of interest in Bitcoin as a long-term store of value. Josh Mandell has a lengthy history of working in fixed income trading, options trading, and the hedge fund space, serving as a director and head of Caxton Associates, a high-profile investment firm specializing in fund management. His public embrace of a Bitcoin ETF is indicative of an increasing interest in digital assets among traditional finance veterans. For retail investors, this represents yet another sign that Bitcoin is slowly but surely becoming a deserving member of the financial mainstream. Veteran hedge fund manager claims he is 'Bit Wiser' after misstep first appeared on TheStreet on May 27, 2025 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
Yahoo
27-05-2025
- Business
- Yahoo
Veteran hedge fund manager claims he is 'Bit Wiser' after misstep
Josh Mandell, a longtime Wall Street trader with a track record in government bonds and short-dated options, as well as experience in leading hedge funds, has provided an interesting note this morning, offering a rare glimpse into his investment in crypto — and it has raised a few eyebrows. Mandell posted on May 27, a screenshot that showed a 2.1 million dollar position in the Bitwise Bitcoin ETF (BITB), with a "tiny" gain of $1,491.80 on the day. His post on X read, "I've made some bad choices when deciding how to invest in Bitcoin, but today I'm a Bitwiser." Bitwise is one of the largest firms providing exposure to Bitcoin via a regulated exchange-traded fund (ETF), so there is no need for traditional investors to invest in crypto assets directly, such as wallets and private keys. Mandell's investment, as shown in the image, consisted of 35,000 shares in the ETF at an average purchase price of $59.98, corresponding to a current trading price of $60.02 for BITB. A $1,491.80 gain is not notable in isolation, but concerning his $2.1 million investment capital, a 0.07% gain signals Mandell's level of interest in Bitcoin as a long-term store of value. Josh Mandell has a lengthy history of working in fixed income trading, options trading, and the hedge fund space, serving as a director and head of Caxton Associates, a high-profile investment firm specializing in fund management. His public embrace of a Bitcoin ETF is indicative of an increasing interest in digital assets among traditional finance veterans. For retail investors, this represents yet another sign that Bitcoin is slowly but surely becoming a deserving member of the financial mainstream. Veteran hedge fund manager claims he is 'Bit Wiser' after misstep first appeared on TheStreet on May 27, 2025
Yahoo
22-04-2025
- Business
- Yahoo
U.S. Spot Bitcoin ETFs Experience $381 Million Surge While BTC Holds Ground During TradFi Sell-Off
U.S. spot Bitcoin exchange-traded funds (ETFs) recorded significant net inflows of $381.4 million on Monday, the largest daily inflow since Jan. 30. This surge occurred while major U.S. stock indexes and the dollar faced declines. Among the 12 ETFs, Ark and 21Shares' ARKB led with inflows of $116.1 million, followed by Fidelity's FBTC with $87.6 million. Bitwise's BITB reported inflows of $45.1 million, and BlackRock's IBIT, the largest spot Bitcoin ETF by net assets, logged $41.6 million in new investments. Bitcoin held steady during this period, trading at approximately $88,176, reflecting a 0.76% increase in the past 24 hours. The crypto briefly surpassed the $88,000 mark multiple times amid a sell-off in traditional financial markets. Conversely, Ether experienced a 4% decline, trading at $1,581. Total trading volume for the 12 spot Bitcoin ETFs reached $3.75 billion on Monday, a notable rise from $1.55 billion on Thursday. In contrast, spot Ether ETFs saw outflows of $25.4 million. The U.S. dollar fell to a three-year low amid stalled global trade negotiations and renewed criticism from President Donald Trump directed at Federal Reserve Chair Jerome Powell, or "Mr. Too Late,' as Trump calls him. The president has advocated for "preemptive rate cuts," which some analysts suggest may further weaken confidence in the dollar. Peter Chung, head of research at Presto Research, stated that the dollar's declining dominance appears to be structural, leading asset allocators to seek diversification through alternatives like Bitcoin. Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
SEC Delays Decisions on In-Kind Redemptions, Ether ETF Staking
The Securities and Exchange Commission (SEC) is not yet ready to make a decision on two critical features that issuers of the spot crypto exchange-traded funds (ETFs) are hoping to add to their products. The regulator delayed a decision on whether it will allow in-kind redemptions for WisdomTree's Bitcoin Fund (BTCW) and VanEck's Bitcoin Fund (BITB) and Ethereum Fund (ETHW) on Monday. It also moved its deadline for a decision in regards to a proposal by Grayscale to allow staking its Ethereum Trust (ETHE) and Mini Ethereum Trust (ETH), which the asset manager's exchange, NYSE Arca had requested in February. Cboe, the exchange that is associated with five of the other issuers of an ether ETF, including Fidelity, Franklin Templeton, VanEck and Invesco/Galaxy, submitted its amended filing in March for the Fidelity Ethereum Fund (FETH) and the Franklin Ethereum ETF (EZET). The SEC has not previously allowed staking in spot ether ETFs. But with the appointment of new SEC Chair Paul Atkins, who was confirmed by the Senate last week, things could change quickly. Several other jurisdictions, including Hong Kong, Canada and Europe, have already green-lighted staking for ETFs, but that doesn't put much pressure on the SEC, said one expert. 'The SEC will take their time and move as fast or as slow as they want,' said James Seyffart, ETF analyst at Bloomberg Intelligence. 'They don't care what other regulators are doing in my experience, they might learn from them but I don't think a regulator approving something is going to make the SEC jump through hoops and catch up. They'll go at their own pace.' The regulator now has until June 3rd to make a decision on in-kind redemptions on Bitwise's and WisdomTree's products and June 1st to decide on Grayscale's staking proposal. Sign in to access your portfolio
Yahoo
15-04-2025
- Business
- Yahoo
SEC Delays Decisions on In-Kind Redemptions, Ether ETF Staking
The Securities and Exchange Commission (SEC) is not yet ready to make a decision on two critical features that issuers of the spot crypto exchange-traded funds (ETFs) are hoping to add to their products. The regulator delayed a decision on whether it will allow in-kind redemptions for WisdomTree's Bitcoin Fund (BTCW) and VanEck's Bitcoin Fund (BITB) and Ethereum Fund (ETHW) on Monday. It also moved its deadline for a decision in regards to a proposal by Grayscale to allow staking its Ethereum Trust (ETHE) and Mini Ethereum Trust (ETH), which the asset manager's exchange, NYSE Arca had requested in February. Cboe, the exchange that is associated with five of the other issuers of an ether ETF, including Fidelity, Franklin Templeton, VanEck and Invesco/Galaxy, submitted its amended filing in March for the Fidelity Ethereum Fund (FETH) and the Franklin Ethereum ETF (EZET). The SEC has not previously allowed staking in spot ether ETFs. But with the appointment of new SEC Chair Paul Atkins, who was confirmed by the Senate last week, things could change quickly. Several other jurisdictions, including Hong Kong, Canada and Europe, have already green-lighted staking for ETFs, but that doesn't put much pressure on the SEC, said one expert. 'The SEC will take their time and move as fast or as slow as they want,' said James Seyffart, ETF analyst at Bloomberg Intelligence. 'They don't care what other regulators are doing in my experience, they might learn from them but I don't think a regulator approving something is going to make the SEC jump through hoops and catch up. They'll go at their own pace.' The regulator now has until June 3rd to make a decision on in-kind redemptions on Bitwise's and WisdomTree's products and June 1st to decide on Grayscale's staking proposal. Sign in to access your portfolio
