tl;dr
Investment advisory firm Fiduciary Alliance LLC has acquired a significant stake in BlackRock iShares Bitcoin ETF (IBIT) and Grayscale Bitcoin Trust (GBTC). They also invested in crypto-related companies such as Coinbase, MicroStrategy, and Tesla. Meanwhile, institutional investors are buying the di...
Fiduciary Alliance LLC has acquired a significant stake in BlackRock iShares Bitcoin ETF (IBIT) and Grayscale Bitcoin Trust (GBTC). They also invested in crypto-related companies such as Coinbase, MicroStrategy, and Tesla. Meanwhile, institutional investors are buying the dip in Bitcoin, with a notable increase in holdings by custodial wallets. The BTC price has seen a slight increase, currently trading at $57,748, amidst decreasing trading volume. Additionally, derivatives traders are showing increased interest in BTC futures and options.
Investment advisory firm Fiduciary Alliance LLC becomes one of the largest buyers of BlackRock iShares Bitcoin ETF (IBIT) in Q2 2024, as per a 13-F filing with the U.S. SEC on July 10. The company added 188,668 units of IBIT valued at $6.64 million. In addition, Fiduciary Alliance purchased Grayscale Bitcoin Trust (GBTC) units worth $3.48 million. Grayscale recently saw $25 million in inflow as a result of 13-F filings by several institutional investors. CoinGape recently reported that City State Bank revealed its exposure to Bitcoin (BTC) through IBIT and GBTC ETFs. The company also acquired shares in crypto-related companies including Coinbase, MicroStrategy, and Tesla. It added 8,332 COIN shares valued at $1.89 million, $1.70 million of MicroStrategy (MSTR) shares, and invested $744,426 in Tesla (TSLA).
$5 billion AUM Northwest Capital Management also disclosed its entry into the Bitcoin market through BlackRock’s iShares Bitcoin Trust (IBIT). Bitcoin bulls are gradually gaining dominance as institutional investors are buying the dip. With Mt. Gox repayment and German Government selloff pulling Bitcoin lower. According to CryptoQuant CEO Ki Young Ju, permanent holders that are mostly custodial wallets accumulated 85K BTC in a month. “These wallets are neither ETFs, exchanges, nor miners. During the same period, 16K BTC flowed out of ETF holdings,” he said. BTC price jumped 0.50% in the past 24 hours, with the price currently trading at $57,748. The 24-hour low and high are $57,014 and $59,416, respectively. Furthermore, the trading volume has decreased by 7% in the last 24 hours. The weakness is a result of CPI inflation data due Thursday. Meanwhile, derivatives traders are buying as total futures open interest surged 2% to surpass $28 billion. CME BTC futures open interest rose to $8.27, up more than 2.50% in the last 24 hours. Also, total BTC options open interest continues to rebound, with currently valued at $16.5 billion.
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Sector: TECHNOLOGY
Industry: SERVICES-COMPUTER PROCESSING & DATA PREPARATION
Market Cap: 2.395 billion
Dividend Yield: -0.06
P/E Ratio: 2.179
Earnings Per Share (EPS): -0.0532
Volume: 165,535,000
Price: $15.58
52-Week High: $0
52-Week Low: $3.798
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Sector: TECHNOLOGY
Industry: SERVICES-COMPUTER PROCESSING & DATA PREPARATION
Market Cap: 542,047,000
Dividend Yield: None
Beta: None
EPS: 1.323
P/E Ratio: -0.491
Volume: 502,400,000
Stock Price: 6.75
52-Week High: 0
52-Week Low: 0
RSI (14): 0.171
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Sector: METAL MINING
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Resistance Level: $0.44
Bullish Trend: No
Bearish Trend: No
Breakout: No
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Industry: Technology
Sector: Services - Prepackaged Software
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Dividend Yield: None
PE Ratio: None
Price/Earnings Growth: -10.67
Price/Book: 32.62
Profit Margin: -0.174
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Gross Margin: 1,959.82
Operating Margin: -0.775
Return on Assets: -0.055
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