Latest news with #FBTC
Yahoo
5 days ago
- Business
- Yahoo
Bitcoin price breaks record but analysts say dry powder could drive breakout north of $200,000
Bitcoin broke its all-time high by just over $100 on Wednesday, capping a blistering $3,000 rally that pushed it an inch past $112,000. Now, analysts say the move could kick off a much larger breakout, driven by accelerating corporate demand, investments into exchange-traded funds, and an influx of even more institutional capital still sitting on the sidelines. 'Bitcoin has reached a new all-time high on the back of relentless demand from investors and corporations,' said Mauricio Di Bartolomeo, co-founder of Ledn. 'In the last 30 days alone, at least 21 US companies have announced new plans to raise and deploy an estimated $3.5 billion into their bitcoin treasuries.' Expectations for rate cuts later this year are also buoying investor appetite. Lower interest rates incentivise investors to bet on risk-on assets like cryptocurrencies. Interest traders now give a 63% chance that the Federal Reserve will lower interest rates by September and an 83% chance by October, according to CME FedWatch data. Meanwhile, demand from spot Bitcoin ETFs remains strong. Net inflows have topped $15 billion this year, with BlackRock's IBIT and Fidelity's FBTC leading the charge. 'As trade tensions flare and altcoins stumble, institutions are treating Bitcoin as a macro hedge and a maturing asset class,' Roshan Roberts, CEO of OKX US, told DL News. 'July will test markets, but Bitcoin looks built for it.' Other analysts also expect the rally to steepen. Bitwise, Bernstein, and Standard Chartered have all projected Bitcoin could reach at least $200,000 by year-end, driven by pension fund allocations, new regulatory clarity in the US, and a wave of 'Strategy copycats' following Michael Saylor's lead. Bitcoin has pulled back slightly since last night's rally and is currently trading at $111,100. 'It's clear the market is seemingly positioned conservatively with room for upside if we start pricing in higher odds of interest rate reductions,' Thomas Perfumo, global economist at Kraken, told DL News earlier this week. Kyle Baird is DL News' Weekend Editor. Got a tip? Email at kbaird@ Sign in to access your portfolio
Yahoo
17-07-2025
- Business
- Yahoo
What ‘Crypto Week' Means for ETFs
It's 'Crypto Week,' and that means clients are probably wondering if they should transfer their retirement savings to meme coins. Congress is preparing to vote on three landmark bills this week that could transform America into the world capital of crypto. The Genius Act, which allows private companies to launch stable coins, already passed the Senate. But, the other two proposals — the Digital Asset Market Clarity Act, which sets up a framework for crypto to be regulated as a security or commodity; and the Anti-CBDC Surveillance State Act that bans the Fed from launching a digital currency — may have a more difficult path to President Trump's desk. The bills could revolutionize how digital assets are bought, sold and regulated in the US. But with all the attention, what will it take for advisors to finally get on board with an asset class that is quickly becoming impossible to ignore? 'We think about crypto investments often, but before incorporating them, we want to understand what problem it solves,' said Robert Persichitte of Delagify Financial. READ ALSO: Here Are the Most Popular Active ETFs of 2025 and BlackRock Tops $12T in AUM. State Street Profits Tumble Over the Hill It's no surprise that the price of Bitcoin topped a record $123,000 high on Monday and that's been good news for issuers and investors. The world's biggest Bitcoin ETF reaped the benefits this week with the $80 billion iShares Bitcoin Trust (IBIT) jumping 2.5% as Bitcoin broke pricing records. Other funds also cashed in, including: The second-largest bitcoin fund, the $22.7 billion Fidelity Wise Origin Bitcoin Fund (FBTC), which jumped about 2.5% Monday, according to Both IBIT and FBTC have given back some of those gains as the price of Bitcoin dipped Tuesday. There may be an even bigger rush to digital assets once more sovereign governments issue debts denominated in cryptocurrency, like El Salvador, Persichitte said. 'That's when it emerges as a unified, globally unified, currency, but it will be difficult to see when that is coming in the future.' Where's the Bill? While many clients are already invested in crypto, the 'eye-popping' valuation could encourage more client questions about digital assets, said Lawrence K. Pon, a CFP and CPA at Pon & Associates. Besides risk, however, there are other important aspects of crypto that advisors should be aware of, like understanding the tax consequences. Trades will generate capital gains or losses that need to be reported on Form 8949, Pon said. Clients will also need to think about estate planning. 'Can their beneficiaries get to the cryptocurrency after they die?' Pon said. 'They need to understand all the complications before investing.' This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter. Sign in to access your portfolio
Yahoo
15-07-2025
- Business
- Yahoo
Function Raises $10M to Bring Yield to Bitcoin; Gets Backing From Galaxy Digital, Antalpha, and Mantle
Crypto infrastructure firm Function has closed a $10 million seed round led by Galaxy Digital (GLXY), with participation from Antalpha (ANTA) and Mantle, the company said in a press release on Tuesday. The round positions Function, formerly known as Ignition, at the forefront of a growing effort to unlock institutional yield opportunities from bitcoin (BTC), which remains the largest yet least-utilized digital asset in decentralized finance (DeFi). Function's flagship product, FBTC, a fully reserved and composable bitcoin representation, has already amassed $1.5 billion in total value locked (TVL), the company said. Function is positioning FBTC as the gateway for institutions and corporate treasuries to productively deploy bitcoin while maintaining full custodial control and 1:1 asset backing. The firm is entering the market as momentum builds around the institutional adoption of bitcoin, not just as a store of value, but as a yield-generating instrument. With Mike Novogratz's Galaxy joining as both an investor and core contributor, Function gains a heavyweight partner in scaling FBTC's institutional reach. Galaxy's involvement includes liquidity provisioning, governance and risk framework design, and strategic oversight. 'By 2026, treating bitcoin as a passive treasury asset may no longer be enough. The new standard will be actively earning yield' said Thomas Chen, CEO of Function, in emailed comments. 'We're evolving from wrapped assets to functional infrastructure that's programmable and institutional-grade to transform bitcoin into a productive asset class. Sophisticated allocators will demand their bitcoin work as hard as their cash. Those slow to adapt will underperform; forward-looking firms will win the next era of bitcoin yield.' Chen while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Insider
15-07-2025
- Business
- Business Insider
Function Ushers in the Era of Bitcoin Yield With Galaxy Digital as Investor in $10M Seed Round
New York, New York, July 15th, 2025, FinanceWire Backed by Galaxy Digital, Antalpha, and Mantle, FBTC Reaches $1.5B in TVL—Establishing the Gateway for Institutional Bitcoin Productivity. Function (formerly Ignition) today announced that Galaxy Digital (NASDAQ/TSX: GLXY) has joined as a core contributor and investor in its $10M seed round alongside Antalpha and Mantle. With strategic support from Galaxy, Mantle, and Antalpha (NASDAQ: ANTA), Function is transforming Bitcoin from a passive store of value into a productive, composable financial asset that can flow seamlessly across decentralized and traditional markets. FBTC—a fully reserved Bitcoin asset with over $1.5B in Total Value Locked—serves as the flagship asset, establishing Function as the definitive gateway for corporate treasuries and institutions seeking to deploy Bitcoin productively while maintaining security and sovereignty. Activating Bitcoin as a Yield Generating Asset Bitcoin's financial utility has reached a critical inflection point. With growing attention on strategic crypto reserves with the United States and Pakistan, and regulatory clarity enabling publicly traded companies like Microstrategy and MetaPlanet to adopt the Bitcoin Standard for corporate treasury, the question is no longer whether Bitcoin should evolve beyond a passive store of value, but how to unlock its productive potential at institutional scale. The Bitcoin Growth story needs to have utility in its next phase. 'At Function, we're not just wrapping Bitcoin—we're building the infrastructure and routing it into productive capital flows,' said Thomas Chen, CEO of Function. 'We're establishing the gateway for institutional Bitcoin yield, starting with FBTC as our standardized omnichain asset. This represents a structural shift in how Bitcoin participates in the global financial system, enabling corporate treasuries to optimize their Bitcoin holdings while preserving the asset's core properties.' Galaxy Strengthens Institutional Foundation Galaxy joins Mantle and Antalpha as core contributors to FBTC, enhancing the institutional infrastructure through: Enhanced Liquidity: Supporting the development of institutional-quality liquidity rails for seamless capital deployment Security Council Leadership: Contributing to governance, risk framework development, and security standards Strategic Investment: Accelerating the development of FBTC's standard infrastructure for Bitcoin's integration into global financial markets "Galaxy's partnership validates our vision of Function as the gateway for Bitcoin productivity," said Chen. "Their institutional expertise strengthens our mission to build the standard infrastructure that enables Bitcoin to flow freely across global financial markets." Jason Urban, Global Head of Trading at Galaxy, added: "I believe Function represents the next evolution in Bitcoin's journey toward becoming a productive financial asset. We're excited to contribute to the infrastructure that Function is building to establish Bitcoin as a capital-efficient reserve asset for global markets." Building on a Foundation of Trust and Security FBTC is a fully reserved, 1:1 Bitcoin-backed asset already integrated with over 8 major protocols and over 25 leading dApps, including Ethereum, Mantle, Aave, and Babylon. Purpose-built to meet the needs of institutions, DeFi protocols, and sophisticated participants, the platform is anchored by three foundational pillars: Institutional Trust & Security: Multi-layer security architecture, comprehensive risk management, and rigorous audit standards designed for institutional adoption Sustainable Yield & Liquidity: Smart contract architecture that maintains Bitcoin's 1:1 backing alongside transparent yield strategies and liquidity provisioning Omnichain & Composable Infrastructure: Seamless integration with major blockchain ecosystems—including Ethereum, Arbitrum, Mantle—and emerging institutional DeFi networks To learn more about Function and FBTC, users can visit About Function Function is pioneering a new standard for Bitcoin yield, transforming BTC into a secure, composable, and institutionally trusted asset across decentralized finance. FBTC represents the first omnichain Bitcoin yield asset, enabling BTC holders to participate in structured, risk-managed yield strategies. Function is supported by Galaxy Digital, Mantle, Antalpha Prime, and leading institutions. For more information, users can visit: Website | X/Twitter | LinkedIn About Galaxy Galaxy Digital Inc. (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia. About Antalpha Antalpha (NASDAQ: ANTA) is a leading fintech company specializing in providing financing, technology, and risk management solutions to institutions in the digital asset industry. As the primary lending partner of Bitmain, Antalpha offers Bitcoin supply chain and margin loans through the Antalpha Prime technology platform, which allows customers to originate and manage their digital asset loans, as well as monitor collateral positions with near real-time data. About Mantle Mantle is building the largest sustainable hub for on-chain finance. Through its core products — Mantle Network, mETH Protocol, and FBTC — Mantle is unlocking the future of finance by blending institutional expertise with the transformative power of blockchain. Anchored by the Mantle Treasury, the largest community-owned treasury in the ecosystem, Mantle ensures robust liquidity and financial stability. With over $4.3 billion in assets, it actively funds core product development and fosters the growth of asset partners, such as Agora AUSD, Ethena USDe, Ondo USDY, and EigenLayer restaking, enhancing sustainable yield, deep liquidity, and financial utility on the Mantle Network. Contact
Yahoo
13-06-2025
- Business
- Yahoo
BlackRock's Bitcoin Fund Becomes Quickest ETF to Top $70 Billion
BlackRock, Inc. (NYSE:BLK) is one of the best stocks for a . The company's iShares Bitcoin Trust (IBIT), the biggest Bitcoin ETF available, has reached $70 billion in assets faster than any ETF before it, marking another major achievement. According to Bloomberg analyst Eric Balchunas, IBIT, the leading option among the 12 Bitcoin ETFs currently on the market, hit the milestone on June 9, 341 days after its launch. Balchunas noted on X that IBIT reached that level '5x faster than the old record held by GLD of 1,691 days,' referring to State Street's well-known gold ETF. Though firms like Fidelity and VanEck also offer Bitcoin ETFs, none match BlackRock's in size. Fidelity's FBTC holds $20 billion, while Grayscale's GBTC trails slightly with just under $20 billion. IBIT and ten other Bitcoin ETFs made their debut early last year following long-awaited approval from the Securities and Exchange Commission. Their launch highlighted strong investor interest in gaining exposure to Bitcoin's price, with IBIT pulling in over $1 billion in assets during its first four days. By November, BlackRock, Inc. (NYSE:BLK)'s Bitcoin ETF had outpaced its gold ETF in assets, becoming the largest among the firm's 1,400 global funds. While we acknowledge the potential of BLK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Sign in to access your portfolio
