Latest news with #MatthewSigel
CNBC
27-05-2025
- Business
- CNBC
Trump Media announces deal to buy $2.5 billion in bitcoin: CNBC Crypto World
On today's episode of CNBC Crypto World, bitcoin holds steady above $110,000. Plus, multiple people are arrested in an alleged kidnapping tied to a crypto wallet. And as Bitcoin 2025 kicks off in Las Vegas, CNBC's Talia Kaplan speaks to Matthew Sigel, head of digital assets research at VanEck to hear his expectations from bitcoin after the cryptocurrency's recent record highs.
Crypto Insight
15-05-2025
- Business
- Crypto Insight
VanEck launches ‘Onchain Economy' ETF
VanEck has launched a new actively managed exchange-traded fund (ETF) designed to invest in stocks and financial instruments offering exposure to the digital economy, the asset manager said on May 14. The VanEck Onchain Economy ETF (NODE) is listed on the Cboe exchange and aims to provide investors with broad exposure to companies operating in the blockchain ecosystem, including crypto miners, exchanges, infrastructure providers, and crypto-oriented financial technology platforms, VanEck said in a press release. The NODE ETF will also 'consider any company that has clearly communicated plans to engage in this space, as evidenced through public filings, earnings calls or investor materials,' VanEck said. Additionally, the fund, which will be actively managed, may also invest in crypto-related financial instruments but will not hold any cryptocurrencies directly, according to the press release. 'As new companies enter the universe through IPOs, spinouts or strategy shifts, we will continuously update our investable universe,' Matthew Sigel, VanEck's head of digital asset research and the NODE ETF's portfolio manager, said in a statement. 'We will also adjust beta and volatility to maintain responsible exposure to bitcoin and to businesses driving the growth of the onchain economy, avoiding over-allocation to high-beta names during frothy markets and preserving buying power for future opportunities,' he said. Beta refers to a financial asset's exposure to market volatility. Other ETF filings In April, VanEck launched another ETF tracking crypto companies. The VanEck Digital Transformation ETF (DAPP) invests in a passive index of companies operating in the digital asset space. The DAPP ETF has $185 million in net assets as of May 14, according to its website. Asset managers such as VanEck are requesting the US Securities and Exchange Commission's (SEC) permission to list upward of 70 crypto ETFs. The flurry of ETF filings is in response to US President Donald Trump softening the SEC's regulatory posture toward crypto after taking office in January. On May 5, VanEck asked the SEC for a green light to list an ETF holding the BNB Chain's native token. Source:
Yahoo
12-05-2025
- Business
- Yahoo
Is Strategy Playing Puppet Master with Bitcoin's Price? Here's What Analysts Are Saying
Strategy (NASDAQ:MSTR) is ramping up its Bitcoin buying spree, snapping up $1.34 billion worth of Bitcoin from May 5 to May 11 a week that saw Bitcoin's price rise by 9%. Gustavo Gala, an analyst at Monness, Crespi, Hardt & Co., flagged the timing of the purchases, suggesting Strategy's activity could be adding fuel to the price moves. But not everyone's convinced. VanEck's Matthew Sigel argues that Strategy's Bitcoin buys are too small and sporadic to move the market consistently, pointing out they only represent around 8% of weekly volume. Warning! GuruFocus has detected 9 Warning Signs with MSTR. Strategy's aggressive buying is part of a broader $84 billion capital-raising blitz, following a record first-quarter loss driven by a new accounting rule that values its Bitcoin holdings at market prices. The company, now a de facto Bitcoin proxy, has increasingly relied on convertible offerings and preferred share sales to fund its buying binge. Yet, the firm isn't the only player in the Bitcoin proxy game. With over 30 publicly listed companies now emulating Strategy's Bitcoin acquisition strategy, competition is heating up in the corporate crypto space. Cantor Fitzgerald is the latest to jump in, teaming up with Tether Holdings SA and SoftBank Group (SFBQF) to launch Twenty One Capital, a new digital asset venture aiming to become a next-gen Bitcoin pure play. Positioned as a Bitcoin-focused fund, the venture plans to raise capital for digital asset investments, echoing Strategy's playbook while potentially setting the stage for further Bitcoin-linked issuance. But as Gala notes, the market may soon start questioning how much Bitcoin-backed debt and equity is sustainable. This article first appeared on GuruFocus.
Yahoo
02-05-2025
- Business
- Yahoo
Ripple has a surprising offer for stablecoin issuer Circle
Ripple is reportedly said to have offered $4 billion to $5 billion to buy the stablecoin issuer Circle, Bloomberg reported on Apr. 30. Circle is said to have rejected Ripple's bid as "too low." VanEck's head of digital assets research, Matthew Sigel, posted about the alleged takeover on X, citing the Bloomberg story. Sources told the publication that though Ripple is still interested in acquiring the stablecoin issuer, it hasn't decided whether to make another offer. A stablecoin is a type of cryptocurrency that is created to maintain a stable value, unlike traditionally volatile cryptocurrencies such as Bitcoin. It is usually pegged to a traditional currency like the US dollar or a commodity like gold. Circle's USDC stablecoin is pegged 1:1 to the US dollar. The firm is focused on following through on an initial public offering (IPO) that it applied for on Apr. 1, the report mentioned. Circle filed the S-1 form with the Securities and Exchange Commission (SEC) to list under the ticker CRCL on the New York Stock Exchange (NYSE). On Apr. 29, it also secured the regulatory win from Abu Dhabi Global Market's Financial Services Regulatory Authority to act as a money services provider in the region. For Ripple, an IPO "isn't a huge priority.' However, the payments firm agreed to acquire the prime broker Hidden Road for $1.25 billion on Apr. 8 in one of the biggest crypto deals ever. Ripple is also nearing the settlement with the Securities and Exchange Commission (SEC) of its years-long lawsuit over alleged securities violations. As per Kraken's price feed, XRP was trading at $2.19 at press time, down 5% a day. Sign in to access your portfolio
Yahoo
29-04-2025
- Business
- Yahoo
TD Cowen Says 'Twenty One Reflects Most-Meaningful Validation Of Strategy's Bitcoin Treasury Operations To Date'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. TD Cowen analysts believe skepticism around Strategy's Bitcoin treasury model could be thawing soon. Financial heavyweights Cantor Fitzgerald and SoftBank are collaborating with leading crypto native firms on a Bitcoin acquisition venture. TD Cowen analysts say the new Bitcoin acquisition venture is bullish for Strategy. When Strategy Inc. (NASDAQ:MSTR) Chair Michael Saylor kicked off the company's Bitcoin accumulation strategy in August 2020, many thought he was crazy. Over 500,000 BTC and several new entrants later, many still think he is crazy. But skepticism around Strategy's model could be thawing soon according to analysts at leading investment bank TD Cowen. They said this in response to the proposed launch of a new Bitcoin treasury company called Twenty One. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Twenty One is a new company created using a Cantor Fitzgerald special purpose acquisition company called Cantor Equity Partners Inc (NASDAQ:CEP). Like Strategy, Twenty One, which is set to be partly owned by leading stablecoin issuer Tether, its sister firm, the crypto exchange Bitfinex and Japanese investment company SoftBank, intends to build a business around granting shareholders exposure to Bitcoin, promising to grow BTC per share. The firm intends to launch with over 42,000 BTC, currently worth over $3.9 billion on its balance sheet, which will be the third-largest Bitcoin holdings of any publicly traded company. It has also reached agreements to raise an additional $585 million to purchase more Bitcoin after launch. 'The proposed launch of Twenty One reflects the most-meaningful validation of Strategy's bitcoin treasury operations to date,' analysts at TD Cowen wrote in a Wednesday note, asserting that the new venture could be the catalyst needed to change the skeptical perception of Strategy among institutional New to crypto? on Coinbase. This sentiment comes due to the psychological impact of the involvement of legacy financial services giants such as Cantor Fitzgerald and SoftBank in the venture, which is, for all intents and purposes, a replica of Strategy's business. As such, the TD Cowen analysts asserted that Twenty One made them 'incrementally bullish on Strategy,' a contrast to other opinions that the new venture could negatively impact MSTR demand. VanEck Head of Digital Assets Research Matthew Sigel hinted on Wednesday that Twenty One could take the spotlight away from Strategy, citing its more competitive share pricing, which could offer investors a better risk-to-reward potential. "21 was priced at 1x NAV vs. MSTR trading closer to 2x," he wrote. Similarly, leading Singapore-based digital asset solutions provider QCP Capital, in a Wednesday note, said, '21 Capital looks set to become the new standard-bearer for crypto conviction,' also citing the new venture's stock price. The firm said Twenty One is 'issuing shares priced at $10, effectively valuing Bitcoin at $85,000 per coin.' MSTR is trading at $347 at the time of writing, up 1% on the day. TD Cowen analysts have tipped the stock to surge to a new all-time high of $550, suggesting a 58% upside potential. On the other hand, CEP is trading at $28, up 70% on the day. Twenty One will trade under the ticker 'XXI' on the Nasdaq following the 42,000 BTC deal closure. Read Next: A must-have for all crypto enthusiasts: . Maximize saving for your retirement and cut down taxes: . Image: Shutterstock Send To MSN: 0 This article TD Cowen Says 'Twenty One Reflects Most-Meaningful Validation Of Strategy's Bitcoin Treasury Operations To Date' originally appeared on Sign in to access your portfolio
