$25B investment firm adds 'riskier' Grayscale GBTC and ETHE for clients

$25B investment firm adds 'riskier' Grayscale GBTC and ETHE for clients

Bitcoin (BTC) and Ether (ETH) exposure has come to one of the world’s biggest automated investment firms.In a blog post on July 29, Wealthfront, which has $25 billion in assets, confirmed that it had added two Grayscale funds to its suite of investment options.GBTC buzz returnsThe recent rise in cryptocurrency prices has kept institutional products such as Grayscale’s various funds in the spotlight.Wealthfront, an example of a so-called “robo advisor” in the investments space, will

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Record outflows from Canada’s biggest Bitcoin fund see BTC reserves drop by 50%

Record outflows from Canada’s biggest Bitcoin fund see BTC reserves drop by 50%

A Canada-based Bitcoin fund, operated by 3iQ Corp, has witnessed a dramatic decline in its BTC reserves since June.Literally named the Bitcoin Fund (QBTC:CN), the closed-end investment product, was holding around 24,000 BTC in its vaults in early June. However, as the monthly session progressed, the reserves first dropped to below 16,000 BTC in a dramatic, straight-line decline. Later, another massive withdrawal pushed the Bitcoin Fund’s BTC reserves to around 13,000 BTC, according to on-chain

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BNY Mellon to provide ETF services for Grayscale’s Bitcoin Trust

BNY Mellon to provide ETF services for Grayscale’s Bitcoin Trust

The bank of New York Mellon, America’s oldest bank, has signed an agreement with cryptocurrency asset manager Grayscale Investments to provide a set of services to its flagship Bitcoin (BTC) investment product.Grayscale officially announced Tuesday that it selected BNY Mellon as an asset servicing provider for Grayscale Bitcoin Trust (GBTC), a major digital currency investment product providing indirect exposure to Bitcoin.BNY Mellon is also expected to provide transfer agency and exchange traded fund-related services for

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Institutional selling of crypto reaches longest streak since Feb 2018

Institutional selling of crypto reaches longest streak since Feb 2018

Institutional managers continued to take profits on their cryptocurrency holdings, with funds dedicated to Bitcoin (BTC) registering their sixth consecutive weekly outflows, according to CoinShares. Outflows from digital asset investment products totaled $79 million last week, marking the third consecutive weekly decline and the longest stretch of drawdowns since February 2018. Outflows from Bitcon funds totaled $89 million, whereas Ethereum (ETH) products endured a $1.9 million decline. Year-to-date, Bitcoin investment products have generated over $4.1 billion

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