Latest news with #BitwiseAssetManagement
Yahoo
24-05-2025
- Business
- Yahoo
Institutional flow worth $400B expected by 2026 as part of sovereign strategy: Bitwise
More than $400 billion in institutional capital will flow into Bitcoin by the end of 2026, UTXO Management and Bitwise Asset Management predicted in a recent report. 2025 is expected to witness more than $120 billion in institutional flows into Bitcoin. The figure is expected to soar to $300 billion in 2026. The investment should accumulate more than 4.2 million BTC during the period, the report says. With President Donald Trump already announcing the establishment of a strategic Bitcoin reserve in March, there are state bills also that aim to convert seized Bitcoin into a treasury asset. More than 20 states, including New Hampshire and Arizona, are already exploring this possibility. Once legislated, these bills could invite capital worth $19 billion into Bitcoin. The report says that at least five states in the U.S. and four other countries, such as Bhutan, are expected to establish their strategic Bitcoin reserves. Bitcoin treasury companies such as Strategy (Nasdaq: MSTR) are set to acquire over 1 million BTC by the end of 2026. In fact, the number of such public companies is expected to more than double by then as geopolitical instability, fiat devaluation, and inflationary pressures rise. Such treasury companies are expected to adopt Bitcoin-native yield strategies, such as lending, staking, etc., by 2026 to attract more investment. 'We're entering a new era of Bitcoin adoption—one that is not driven by hype cycles, but by balance sheet fundamentals, sovereign strategy, and long-term fiduciary mandates,' UTXO Management's research lead Guillaume Girard said. "Over the next 18 months, bitcoin is set to cement its role as a global store of value," Bitwise Asset Management's senior investment strategist Juan Leon said. Institutional flow worth $400B expected by 2026 as part of sovereign strategy: Bitwise first appeared on TheStreet on May 23, 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
Business Wire
22-05-2025
- Business
- Business Wire
Bitwise Announces Monthly Distributions for IMST, ICOI, and IMRA
SAN FRANCISCO--(BUSINESS WIRE)--Bitwise Asset Management, a leading crypto asset manager, today announced the monthly distributions for its suite of Option Income Strategy ETFs: IMST, ICOI, and IMRA. The Distribution Rate shown is as of 4 p.m. ET on May 22, 2025. The Distribution Rate is the annual rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying an ETF's Distribution per Share by twelve (12), and dividing the resulting amount by the ETF's most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund's NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. The Return of Capital percentage is the estimated portion of the distribution that represents an investor's original investment. Future distributions may differ significantly and are not guaranteed. The 30-day SEC yield reflects the dividends and interest earned during the previous month, after deducting the fund's expenses. This is also referred to as the 'standardized yield' and provides an annualized estimate of what an investor would earn in yield over a 12-month period, assuming the fund continues to earn at the same rate. Performance data quoted represents past performance and is no guarantee of future results. Short-term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the original cost. Returns for periods of one year or less are not annualized. For the most recent month-end performance, please call 1-415-707-3663. The net expense ratio for each Fund is 0.98%. (The gross expense ratio for ICOI and IMST is 0.99%, with a fee waiver in place through March 25, 2027.) Risks and Important Information Carefully consider the investment objectives, risk factors, charges, and expenses of the Bitwise COIN Option Income Strategy ETF (ICOI), Bitwise MARA Option Income Strategy ETF (IMRA), and Bitwise MSTR Option Income Strategy ETF (IMST) (each a 'Fund' and together the 'Funds') before investing. This and additional information can be found in each Fund's full or summary prospectus, which may be obtained by visiting: for ICOI, for IMRA, for IMST, Investors should read it carefully before investing. An investment in a Fund is not an investment in the underlying security. The Funds do not directly invest directly in shares of COIN, MARA, or MSTR. Fund shareholders are not entitled to any dividends from the underlying security. A Fund's strategy is subject to all potential losses if shares of the underlying security decrease in value, which may not be offset by income received by the Fund. Market Risk. Market risk is the risk that a particular security, or Fund Shares in general, may fall in value. Securities are subject to market fluctuations caused by such factors as economic, political, regulatory or market developments, changes in interest rates and perceived trends in securities prices. Covered Call Strategy Risk. A covered call strategy involves writing (selling) covered call options in return for the receipt of premiums. The seller of the option gives up the opportunity to benefit from price increases in the underlying instrument above the exercise price of the options but continues to bear the risk of underlying instrument price declines. The premiums received from the options may not be sufficient to offset any losses sustained from underlying instrument price declines over time. The covered call strategy utilized by the Funds is 'synthetic' because the Funds' exposure to the price return of the underlying security is derived through options exposure, rather than direct holdings of the shares of the underlying security. Because such exposure is synthetic, it is possible that the Fund's participation in the price return of the underlying security may not be as precise as if the Fund were directly holding shares of the underlying security. Issuer-Specific Risks. Issuer-specific attributes may cause an investment held by the Fund to be more volatile than the market generally. The value of an individual security or particular type of security may be more volatile than the market as a whole and may perform differently from the value of the market as a whole. Equity Securities Risk. Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. Digital Assets Risk. Coinbase, MARA Holdings, and Strategy (each a 'Company' and together the 'Companies') may have substantial holdings of bitcoin and other digital assets. Accordingly, it is subject to the risks associated with such holdings. Bitcoin is a relatively new innovation and the market for bitcoin is subject to rapid price swings, changes and uncertainty. Bitcoin is subject to the risk of fraud, theft, manipulation or security failures, operational or other problems that impact the digital asset trading venues on which bitcoin trades. The realization of any of these risks could result in a decline in the acceptance of bitcoin and consequently a reduction in the value of bitcoin and shares of COIN, MARA, or MSTR. Custody Risk. Security breaches, computer malware and computer hacking attacks have been a prevalent concern in relation to digital assets. The bitcoin held by the Companies will likely be an appealing target to hackers or malware distributors seeking to destroy, damage or steal bitcoins. To the extent that any Company is unable to identify and mitigate or stop new security threats or otherwise adapt to technological changes in the digital asset industry, that Company's bitcoins may be subject to theft, loss, destruction or other attack. Digital Asset Regulatory Risk. There is a lack of consensus regarding the regulation of digital assets, including bitcoin, and their markets. Ongoing and future regulatory actions with respect to digital assets generally or bitcoin in particular may alter, perhaps to a materially adverse extent, the nature of an investment in the shares of the underlying security or the ability of the Companies to continue to operate. Concentration Risk. The Fund is susceptible to an increased risk of loss, including losses due to adverse events that affect the Fund's investments more than the market as a whole, to the extent that the Fund's investments are concentrated in investments that provide exposure to the underlying securities and the industry to which they are assigned. Derivatives Risk. The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. Trading derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities. The use of leverage may cause the Fund to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations or to meet regulatory or contractual requirements for derivatives. The use of derivatives can magnify potential for gain or loss and, therefore, amplify the effects of market volatility on share price. New Fund Risk. The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision. Options Risk. The use of options involves investment strategies and risks different from those associated with ordinary portfolio securities transactions and depends on the ability of the Fund's portfolio managers to forecast market movements correctly. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, or in interest or currency exchange rates, including the anticipated volatility, which in turn are affected by fiscal and monetary policies and by national and international political and economic events. Nondiversification Risk. The Funds are nondiversified and may hold a smaller number of portfolio securities than many other products. To the extent any Fund invests in a relatively small number of issuers, a decline in the market value of a particular security held by the Fund may affect its value more than if it invested in a larger number of issuers. ICOI, IMRA, and IMST are distributed by Foreside Fund Services, LLC, which is not affiliated with Bitwise or any of its affiliates.
Yahoo
07-05-2025
- Business
- Yahoo
Here's Why Many Crypto Industry Insiders Think Bitcoin Could Reach $1 Million by 2029
Key Points The supply of Bitcoin available for purchase is tighter than it looks. Institutional investors and major businesses are loading up on the crypto. Some crypto industry executives are forecasting stunning price gains. 10 stocks we like better than Bitcoin › Bitcoin (CRYPTO: BTC) doesn't need to reinvent itself to get to $1 million, it just needs to continue getting scarcer than it is today, when its price is near $95,000 per coin. If investors and institutions keep showing up with new capital while new supply continues to be harder to come by, its price is more likely to go up than it is to go down over the long term. At least, that's the case being made by a growing number of people in the crypto industry who think the $1 million milestone is closer than most expect. On May 1, another high-profile prediction was made, this time by Bitwise Asset Management's head of European research, Andre Dragosch, who anticipates Bitcoin reaching that target by 2029. But what exactly are Dragosch and others seeing that has them targeting seven figures for the coin's price in the next few years? Source: Getty Images. Supply is contracting faster than it seems Per Bitcoin's protocol, there can only ever be 21 million coins mined. As of now, about 94% of the possible supply has already been mined. After the protocol's most recent halving in April 2024, the daily quantity of new supply being created is just 450 bitcoins. But that figure overstates the supply that's actually available for purchasing. About 20% of all Bitcoin is thought to be lost, forgotten, or otherwise inaccessible due to people losing their cryptowallet credentials. Meanwhile, the market includes ongoing purchasing of the coin by corporate treasuries, asset managers sponsoring exchange-traded funds (ETFs), and perhaps soon governments. After all that, the amount of Bitcoin that could reasonably be bought or sold on the open market dwindles quickly, and no large holders have publicly committed to exiting their positions anytime soon. And why does the floating supply of Bitcoin matter, if any holder can instantaneously increase it by opting to sell some of their coins to the market? Because it is float, not the total supply outstanding, which tends to drive prices in real markets. If you're trying to buy something and hardly anyone's selling it, your only option is to offer to pay more and more until a holder is enticed to sell. The more this dynamic holds, the more pressure it places on price to adjust upward. And Bitcoin's ownership structure is increasingly concentrated in entities that are not likely to sell.
Yahoo
29-03-2025
- Business
- Yahoo
Bitcoin May End Q1 in Red: What's Ahead for ETFs? (Revised)
Bitcoin has fallen from its post-election highs, with the cryptocurrency on track to end the first quarter of 2025 in the red. From the start of 2025, Bitcoin witnessed a shaky trend, weighed down by speculation that the Fed may have limited scope for further interest rate cuts. Bitcoin is down about 7% so far this year (as of March 26, 2025). Investor sentiment shifted on the likelihood of a prolonged pause in Fed rate changes due to uncertainty related to inflation. Concerns also emerged over the potential inflationary impacts of President Donald Trump's tariffs and immigration policies. Bitcoin, which skyrocketed following Trump's election win on hopes of a reserve, found the actual government move underwhelming. In early March, there was an executive order by President Donald Trump to establish a strategic Bitcoin reserve for the United States. The reserve will be funded using Bitcoin seized in criminal and civil forfeiture cases, with no plans for the U.S. government to purchase additional Bitcoin at this time. Investors were disappointed that the government did not introduce a more aggressive Bitcoin acquisition program. Despite the market's negative reaction to Bitcoin in the first quarter, some investors believe that the government move is bullish for the long term. Matt Hougan, CIO at Bitwise Asset Management, told CNBC's Squawk Box Asia that the market may be misinterpreting the announcement. The market is short-term disappointed that the government didn't say it was immediately going to acquire 100,000 or 200,000 Bitcoin, per Hougan. White House Crypto and AI Czar David Sacks hinted at possible future Bitcoin acquisitions, stating that the U.S. government would explore budget-neutral strategies that impose no extra costs on taxpayers. However, any additional purchases beyond seized assets would require further executive or legislative action. Fed Chair Jerome Powell recently equated the cryptocurrency Bitcoin to gold rather than the U.S. dollar, stating, 'People use Bitcoin as a speculative asset. It's like gold — it's just virtual and digital.' Interestingly, BlackRock's spot Bitcoin-based ETF iShares Bitcoin Trust IBIT (launched earlier in 2024) now has more than $48 billion in net assets. That's more than BlackRock's iShares Gold Trust IAU ETF, which debuted in 2005 and has $41.1 billion in assets (read: Is Bitcoin the Digital Gold? ETFs in Focus). Hougan described the recent price drop as a temporary setback, predicting that the market will soon recognize the long-term bullish implications of the U.S. strategic reserve. However, we believe that investors should remain cautious about investing in Bitcoin, as we are yet to gain more clarity on the Bitcoin acquisition plan. Moreover, trade tensions persist, and it remains to be seen which direction Trump's tariff war will ultimately take. We suggest that investors remain on the sidelines. Issuers have introduced various tools to make a high-risk asset like Bitcoin more accessible and appealing to risk-averse investors. Calamos has launched a suite of Bitcoin buffer ETFs: Bitcoin Structured Alt Protection ETF – January CBOJ, Bitcoin 90 Series Structured Alt Protection ETF – January CBXJ and Bitcoin 80 Series Structured Alt Protection ETF – January CBTJ. Innovator also launched the Uncapped Bitcoin 20 Floor ETF - Quarterly QBF, the first ETF offering uncapped exposure to Bitcoin's upside potential while simultaneously capping downside losses. These products offer some downside protection amid extreme volatility. (We are reissuing this article to correct a mistake. The original article, issued on March 27, 2025, should no longer be relied upon.) Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
11-03-2025
- Business
- Yahoo
What Lies Ahead of Bitcoin ETFs: Pain or Gain?
Bitcoin has been registering price volatility following an executive order by President Donald Trump to establish a strategic Bitcoin reserve for the United States. The reserve will be funded using Bitcoin seized in criminal and civil forfeiture cases, with no plans for the U.S. government to purchase additional Bitcoin at this time. Bitcoin, which has skyrocketed since Trump's election win on hopes of a reserve, found the actual government move underwhelming. Following the announcement last Thursday, crypto prices declined, as investors were disappointed that the government did not introduce a more aggressive Bitcoin acquisition program. Other major cryptocurrencies experienced losses post the news. Bitcoin has lost about 9% in price over the past week (at the time of writing), but bounced back on Monday. At the time of writing Bitcoin gained more than 2% on Monday. Despite the market's negative reaction, some investors believe the move is bullish in the long term. Matt Hougan, CIO at Bitwise Asset Management, told CNBC's Squawk Box Asia that the market may be misinterpreting the announcement. The market is short-term disappointed that the government didn't say it was immediately going to acquire 100,000 or 200,000 Bitcoin, per Hougan. White House Crypto and AI Czar David Sacks hinted at possible future Bitcoin acquisitions, stating that the U.S. government would explore budget-neutral strategies that impose no extra costs on taxpayers. However, any additional purchases beyond seized assets would require further executive or legislative action. Hougan believes this move strengthens Bitcoin's position as a geopolitically important asset, increasing the likelihood that other governments will establish their own strategic Bitcoin reserves. And the move takes place in reality, Bitcoin's future price could be $1 million instead of $80,000, per Hougan, as quoted on CNBC. Hougan described the recent price drop as a temporary setback, predicting that the market will soon recognize the long-term bullish implications of the U.S. strategic reserve. But we believe that investors should remain cautious about investing in Bitcoin, as we have yet to gain more clarity on the Bitcoin acquisition plan. Moreover, trade tensions persist, and it remains to be seen which direction Trump's tariff war will ultimately take. At the time of writing, Bitcoin is down 11.8% so far this year. We suggest that investors remain on the sidelines. Issuers have introduced various tools to make a high-risk asset like Bitcoin more accessible and appealing to risk-averse investors. Calamos, has launched a suite of Bitcoin buffer ETFs: Bitcoin Structured Alt Protection ETF – January CBOJ, Bitcoin 90 Series Structured Alt Protection ETF – January CBXJ and Bitcoin 80 Series Structured Alt Protection ETF – January CBTJ. Innovator also launched the Uncapped Bitcoin 20 Floor ETF - Quarterly QBF, the first ETF offering uncapped exposure to Bitcoin's upside potential while simultaneously capping downside losses. These products some downside protection amid extreme volatility. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
