Latest news with #Hashdex
CNBC
24-07-2025
- Business
- CNBC
Ether rises 2% and bitcoin inches back above $119,000: CNBC Crypto World
On today's episode of CNBC Crypto World, bitcoin and ether both make gains while Solana slips to $188. Plus, Gerry O'Shea, head of global market insights for Hashdex, discusses the impact of the GENIUS Act on markets and what to expect for crypto in the second half of 2025.
Yahoo
12-07-2025
- Business
- Yahoo
Bitcoin Hits New All-Time High at $116k, Nearly $1B Shorts Get Liquidated: Markets Liveblog
Bitcoin just breached $116k after blowing past $113,800 on Thursday, setting a new all-time high. The oldest digital asset has been on a tear for the last several months — and has nearly doubled over the past year, climbing from $57,899 a year ago today. CoinDesk analysts and industry experts are watching closely to see if bitcoin (BTC) can rise to $120,000, or if this week's price action is just an ephemeral gasp. This liveblog will be updated regularly. Scroll down for the latest. Unknown block type "divider", specify a component for it in the ` option Tough day for the shorts: Thursday's move higher in prices liquidated over $950 million in leveraged short trading positions across all assets on exchanges, the largest amount in a day this year, CoinGlass data shows. Shorts are bearish bets anticipating prices will decline. Bettors in the prediction market Kalshi are pricing in bitcoin hitting $141,000 by the end of this year. The forecasted BTC price is based on the price of recent trades that were put on the tape in the platform, according to Kalshi. This isn't the first time the $140K price prediction showed up during today's ATH rally. Earlier, Gerry O'Shea, head of global market insights at Hashdex, said in a note: "While the macro environment will continue to remain uncertain, we believe the bull market is far from over and new catalysts, including more institutional platforms allowing access to bitcoin, may help drive the price of BTC to $140,000 or higher this year."Michael Saylor now has $69 billion reason to celebrate:Michael Saylor, the executive chairman of Strategy (MSTR), gloated in Thursday's price rise. Strategy has accumulated 597,325 Bitcoin since 2020, when his company first started buying up bitcoin, almost acting as a de facto exchange-traded fund before such products were available to U.S. investors. At today's new all-time high prices, his holdings are worth $69.29 billion. And as a reminder, here are the top public bitcoin treasury companies, according to The vibes on Thursday felt eerily similar to mid-December 2017, when bitcoin's price soared to just under $20,000 for the first time. The digital asset had gone on a tear in 2017, rising from just under $1,000 over the course of those 12 months. Of course, the broader environment is dramatically different in July 2025: Interest rates, the amount of capital invested into digital assets, the types of institutions involved, the regulatory interest and the sheer number of people in crypto are all different than eight years ago. Here is at least one industry observer calling for a potential $120K for bitcoin. Ryan Gorman, chief strategy officer at Uranium Digital, said: "Bitcoin accumulation through companies deploying treasury strategies is continuing to pick up momentum across all sectors and geographic regions, and shows no sign of slowing down. This, coupled with President Trump's bullish Truth Social post earlier today, and the administration's declared Crypto Week next week in D.C., leads to a situation where buyers outnumber sellers and continues a virtuous cycle where higher prices beget more buys in anticipation of further positive news. "Additionally, when looking at open options interest, positioning is rather bullish with calls outnumbering puts - the smart (institutional) money is expecting a further move to the upside. Where this rally extends to is anyone's guess, but, seasonally light trading volumes lead to less liquidity and the opportunity for prices to gap quickly to the upside. This is creating a perfect storm where it would not surprise me if we see Bitcoin hit $120,000 before the end of next week regardless of uncertainty around tariffs and their impact on the global economy." We are reopening the live blog to update for the new, fresh record for BTC. The price just hit $116,221 on Coinbase and is hitting new all-time highs above $116k on other exchanges. Just the wild 24-hour nature of crypto! The live blog will be wrapping up for today as the market seems to have calmed down for now. Bitcoin is trading around $113,400, while the Nasdaq and S&P 500 closed 0.1% and 0.3% higher, respectively. The U.S. dollar index (DXY) inched slightly higher to 97.6. Speaking of USD weakness and risk assets, let's quickly look at a story written by CoinDesk contributor Siamak Masnavi based on an analysis by Kobeissi Letter. This may partially explain why BTC hit a fresh high. The Kobeissi Letter estimated that if the federal funds rate is cut by at least 3% (something that Trump suggested in his social media post), it could reduce U.S. interest costs by up to $2.5 trillion over five years, but warned that it would be unprecedented outside a recession. They cautioned it could reignite inflation above 5%, sink the USD more than 10%, and send asset prices soaring, including gold to $5,000 and the S&P 500 past 7,000. The precious metal is currently trading around $3,324/oz, and SPX just closed at 6,280.47. Adding to market volatility, rumors have emerged that Trump might attempt to remove Powell for cause before his term ends in 2026, potentially replacing him with a more compliant successor. Such a move could accelerate interest rate cuts, further weakening the dollar and boosting demand for alternative assets like bitcoin. Looking at derivatives, perp funding rates are at or below neutral for all major cryptos across the board. No immediate signs of speculative froth so far. As ByteTree chief investment officer Charlie Morris said in a market note this week, "crypto feels quiet," but "the quiet bulls are the best." On the altcoin front, things have remained relatively muted, with most large caps only rising 2%-5%. Notable exceptions among the top 50 coins by market capitalization include sui (SUI), pepe (PEPE) and dogecoin (DOGE), which are up 12.4%, 8.6% and 6.3% respectively. The CoinDesk 20, meanwhile, is up 3.2%. Bitcoin is now in a "negative dealer gamma zone" between $112,000 and $120,000, Deribit options data tracked by Amberdata shows. This means that to maintain a net direction-neutral portfolio exposure, which they strive to do per mandate, market makers will have to buy the underlying asset as the market moves higher, adding to upside volatility. In short, the trend could accelerate. Some are attributing bitcoin's all-time high to global currency fluctuations, saying that while $113,800 is indeed the highest BTC has been relative to USD, it's not the highest it's been relative to other currencies. And indeed, valuing BTC in terms of the U.S. dollar as opposed to other currencies or even other cryptocurrencies has long spurred debate within the industry. Crypto-linked stocks are on fire, with crypto exchanges such as Robinhood (HOOD) and Coinbase (COIN) rising more than 3% on Thursday. Meanwhile, the miners such as Hut 8, Bitfarms, and HIVE Digital are up more than 4%. Interestingly, the stablecoin issuer Circle (CRCL), the hottest new crypto IPO stock, is only up by 0.4%. The 2021 bull run's second half was purely leverage and derivatives-driven. It had a 50% hash rate correction, and all on-chain metrics were bearish, plus we had incoming fed rate hikes for the first time. Market cycle is completely different with a new buyer in the market, a new Fed chair potentially incoming with cuts and a crypto-pro U.S. president. Also, don't forget the swath of bitcoin buying treasury companies. Net accounts are still short (CoinDesk's Omkar Godbole mentioned this was a retail indicator). This is interesting, as in previous cycles, we had retail euphoria, but not so much this time. However, while a record high for bitcoin is almost certainly bullish on the surface, a number of technical indicators paint a different picture: the daily RSI has now made three lower highs, an example of bearish divergence indicating the move could be short-lived. Trading volume has also dropped off since the initial record high in January, and BTC is still below its respective record highs against EUR and GBP, indicating dollar weakness over BTC strength. Also, the trading firms I speak to are bearish, but it is worth noting that they were also bearish from BTC's $30k to $70k run in the last cycle's double 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
10-07-2025
- Business
- Yahoo
Bitcoin Breaks Fresh Record Topping $113,000
Bitcoin (BTC) clinched a fresh record high above $113,000 on Thursday, attempting to break away from the range it has been trading in for months. The largest and oldest cryptocurrency hit $113,313 during the U.S. session, CoinDesk price data shows. It was up 3.7% over the past 24 hours. The new record comes less than a day after it briefly topped $112,000 on some exchanges, then retreated below $111,000 in the later hours. Bitcoin's rally to new highs was buoyed by strong inflows into ETFs, relentless corporate adoption by crypto treasury companies and an increasingly favorable regulatory climate, Gerry O'Shea, head of global market insights at Hashdex, said in a note. "While the macro environment will continue to remain uncertain, we believe the bull market is far from over and new catalysts, including more institutional platforms allowing access to bitcoin, may help drive the price of BTC to $140,000 or higher this year," he said. The broader crypto market was also climbing higher on Thursday. Ethereum's ether (ETH) topped $2,800 and was up more than 5%, while XRP (XRP) gained 3.5%. The broad-market CoinDesk 20 Index advanced 3.4% to its strongest level since May. UPDATE (July 10, 17:15 UTC): Updates prices. Sign in to access your portfolio
Forbes
30-06-2025
- Business
- Forbes
Brazil Leads Crypto ETF Race With New Hybrid Bitcoin/Gold Product
Sao Paulo skyline view from the swimming pool at the Unique Hotel in Sao Paulo, Brazil. (Photo by ... More Paulo Fridman/Corbis via Getty Images) Hashdex, the Rio de Janeiro-based crypto asset manager, is teaming up with Buena Vista Capital to launch a hybrid bitcoin and gold exchange-traded fund on Brazil's B3 stock exchange. The new offering advances Brazil's status as a global leader in the cryptocurrency ETF sector. When GBTC11, as the product will be known (not to be confused with Grayscale GBTC Trust in the US), goes live on July 29, Brazil's B3 exchange will boast 22 ETFs that offer full or partial exposure to crypto assets. GBTC11 will track the FTSE Bitcoin and Gold Risk Weighted Index and is designed to be a unique blend of two assets that are heavily sought after in volatile economic climates. Allocations will be adjusted dynamically with gold exposure increasing during crypto market downturns, and bitcoin exposure increasing when gold is in a lull period. With an estimated initial share price of R$30 (US$5.52) and a management fee of 0.98% annually, the GBTC11 will offer portfolio protection and growth potential to both small and large investors alike. Renato Nobile, founder and portfolio manager at Buena Vista Capital, said in a statement: Henry Oyama, director of investment strategies at Hashdex, said: While Brazil represents a small percentage of total cryptoassets under management globally, its capital markets infrastructure in the segment - as evidenced by these ETFs -are remarkably complex. These funds have 180,000 investors, with daily transaction volume averaging R$50 million (US$9.1 million) and total assets under management surpassing R$5 billion (US$920 million). Other longer-standing products include Hashdex's HASH11, which features a weighted basket of cryptocurrencies, and other single asset funds focusing on bitcoin and Ethereum have been around since the 2021. In September 2024, Brazil became the first country to approve single asset Solana ETFs. Hashdex and QR Asset subsequently became the first in the world to launch these products. In April of this year, Hashdex launched the world's first XRP ETF. In June 2025, the B3 exchange launched trading of Ethereum and Solana futures contracts. As investors globally continue to look for heightened exposure to crypto assets in a regualted and institutional-grade manner, Brazil stands out as a trailblazer.
Yahoo
12-06-2025
- Business
- Yahoo
Financial Advisors Remain Hesitant Towards Bitcoin — But Won't Be for Long
Almost a year and a half after bitcoin BTC spot exchange-traded funds were unleashed upon the U.S. financial system, financial advisors are still trying to wrap their heads around crypto. That's according to Gerry O'Shea, head of global market insights at crypto asset manager Hashdex. 'The overwhelming majority of financial advisors in particular are not recommending an allocation to bitcoin or crypto to their clients at this point,' O'Shea told CoinDesk in an interview. 'Of course, there are some out there that have been very proactively thinking about this space and getting their clients exposure to it, but that's really a small subset of the overall market," he added. "Most of what we've been doing in the last few years is based around education." Advisors are receptive to all of this, O'Shea said — it's simply that due diligence takes a while, and that they move relatively slowly. In other words, these are still very early days in terms of advisors recommending crypto exposure to their clients. Their questions have moved beyond trying to understand what bitcoin or blockchain is, and now focus more on the role that digital assets can play in someone's portfolio, according to O'Shea. Should it be seen as an equity allocation? Should it replace gold? General scepticism towards the asset class as a whole tends to be confined to older generations of financial advisors. At the top of the list of concerns is volatility. Advisors may be aware that bitcoin is a developing asset with a 16-year track record, but at the end of the day, they may still struggle to stomach the currency's regular 20% or more declines. Anxieties about bitcoin's energy consumption — which were big enough in 2021 for Tesla to stop receiving bitcoin payments — have somewhat receded to second place, O'Shea said. In fact, the narrative around proof-of-work seems to have changed significantly in the last few months, he noted, with people increasingly appreciating that bitcoin mining can help develop renewable energy projects. Coming in third is criminality. Bitcoin is still often seen, even by members of Congress, as a payment system that facilitates drug dealers and sanctions evaders. Financial advisors still bring this up as a point of concern, O'Shea said. For him, there are two main themes in 2025 when it comes to digital assets: bitcoin and stablecoins. And while it isn't as straightforward to gain exposure to the growth of the stablecoin market, he stated that smart contract platforms such as Ethereum and Solana — which provide the infrastructure for stablecoins to function — should become interesting to investors. 'There is certainly real utility for these platforms. A lot of people refer to stable coins as the first killer app, right? Because it's something that intuitively people can understand,' O'Shea said. In any case, the hesitation around bitcoin won't last forever, he predicted. 'These folks are under-appreciating how developed this ecosystem is, and how beneficial an allocation to this asset class can be over the longer term,' he said. 'Even by the end of the year, there'll be a lot more that appreciate that fact.' 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
