Latest news with #BitwiseBitcoinETF
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
24-04-2025
- Business
- Yahoo
Senator and Ex-Bridgewater CEO McCormick Invests More in Bitcoin as Bill in Works
U.S. Senator Dave McCormick, the former chief executive of massive hedge fund Bridgewater Associates, is putting his own cash into bitcoin (BTC) as the committee he's on is at the tip of the spear for a legislative effort to regulate the digital assets industry. McCormick has made repeated recent investments in the Bitwise Bitcoin ETF worth hundreds of thousands of dollars, according to disclosures this week. Because of the ranges used in such lawmaker disclosures, the latest amounts invested last month can only be said to be between $310,000 and $700,000. The new investment follows McCormick's disclosure of as much as $450,000 in the Bitwise ETF in February, potentially bringing his total investment closer to a million. His investments represent the bulk of bitcoin investing in Congress this year. Representative Marjorie Taylor Greene, a Georgia Republican, invested a much smaller amount, favoring BlackRock's iShares Bitcoin Trust (IBIT). The Republican senator from Pennsylvania, who has held a series of high-profile government posts throughout his career, is new to the Senate and was put on the Senate Banking's Committee's subcommittee that deals with digital assets. That's the group of lawmakers likely closest to the coming action on crypto legislation that's expected to move this year. As a Senate candidate last year, the former hedge fund exec argued America needed to lead on crypto. He said during the subcommittee's first digital assets hearing in February, "This Congress must work alongside President Trump to pass bipartisan digital asset legislation that will guide the future of innovation and secure a robust economic future for the U.S." While his bitcoin stake is outpacing other lawmakers, he's been putting the bulk of his investments in municipal securities in recent months, the disclosures in to access your portfolio
Yahoo
03-04-2025
- Business
- Yahoo
Congressman Buys Up To $600K In Bitcoin ETF After Selling $1 Million In Goldman Sachs Stock: Committee Assignment Could Be Red Flag
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A Congressman who bought shares of a Bitcoin (CRYPTO: BTC) ETF before President Donald Trump announced an Executive Order to establish a Strategic Bitcoin Reserve is back again with a hefty bet on the future price of the leading cryptocurrency. What Happened: Trump's friendly stance toward cryptocurrency helped propel Bitcoin and other cryptocurrencies to all-time highs after his 2024 presidential election win. Bitcoin hit new all-time highs months later in January, ahead of Trump's inauguration. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share! Hasbro, MGM, and Skechers trust this AI marketing firm — invest pre-IPO from $0.55 per share. While the price of Bitcoin has fallen since Trump took office, potential plans for a Bitcoin Strategic Reserve could place optimism in the United States buying the leading cryptocurrency and sending the value of BTC higher. Senator David McCormick (R-Pa.) could be hedging his investments on this very scenario. Benzinga previously reported that McCormick bought between $65,000 and $150,000 in shares of the Bitwise Bitcoin ETF (NYSE:BITB). McCormick is back to buying shares of the Bitwise Bitcoin ETF, according to the Benzinga Government Trades page. This time, the Senator is investing with more size. Here's a look at his latest BITB trades. Feb. 27: Bought $50,000 to $100,000 Feb. 28: Bought $15,000 to $50,000 March 3: Bought $50,000 to $100,000 March 5: Bought $15,000 to $50,000 March 10: Bought $50,000 to $100,000 March 11: Bought $15,000 to $50,000 March 13: Bought $15,000 to $50,000 March 20: Bought $50,000 to $100,000 McCormick disclosed the trades over the weekend and included eight buys of the Bitcoin ETF. Adding up the transactions, McCormick bought between $260,000 and $600,000 in the Bitwise Bitcoin ETF. The Senator also disclosed several other trades, mostly in corporate bonds. The other notable trade in the recent filing was McCormick selling between $1 million and $5 million in Goldman Sachs (NYSE:GS) stock, a partial sale of his position in the It's Important: The Senator has been perceived as being friendly to the cryptocurrency sector, which prompted an endorsement from a key crypto figure in his 2024 Senate race. McCormick, the former CEO of the hedge fund Bridgewater Associates, narrowly won a Senate seat in the 2024 election. During his Senate campaign, McCormick was endorsed by Coinbase Global CEO Brian Armstrong for his pro-crypto support. 'If you live in Pennsylvania, you should vote for Dave McCormick. He is the better candidate on crypto (among many other credentials,' Armstrong said at the time. A Senator buying Bitcoin ETFs could signal support for the leading cryptocurrency. The purchase and timing could also draw red flags and continue the hot debate of whether members of Congress should be able to profit off the buying and selling of stocks, options and cryptocurrencies. On the day of McCormick's ETF purchase (Feb. 26), he was part of the Senate Banking Subcommittee on Digital Assets's first hearing. '2025 is the year for digital assets. Blockchain and digital assets offer Pennsylvania and America a chance to lead the next wave of innovation, enhancing our national security and our economy. Proud to be a member of the inaugural Senate Banking Subcommittee on Digital Assets,' McCormick tweeted. McCormick's being part of the Subcommittee on Digital Assets and his heavy trading in a Bitcoin ETF will likely raise red flags ahead of a potential Bitcoin Strategic Reserve. Read Next: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – with $1,000 you can invest at just $0.26/share! Photo: Shutterstock This article Congressman Buys Up To $600K In Bitcoin ETF After Selling $1 Million In Goldman Sachs Stock: Committee Assignment Could Be Red Flag originally appeared on Sign in to access your portfolio
