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🔥Hot off the press!🔥 Morgan Stanley, the sixth-largest banking firm in the US, has made a whopping $269 million investment in a spot Bitcoin ETF, according to its recently published Form 13-F. The investment was made in Grayscale’s GBTC during Q1 2024. 🚀 This positions Morgan Stanley as one of the largest holders of GBTC, hot on the heels of Susquehanna International Group’s hefty $1.0 billion investment. It's not alone, though! Other big-name banks like Royal Bank of Canada, JP Morgan Chase, Wells Fargo, BNP Paribas, and UBS are also dipping their toes into the Bitcoin ETF pool. 🏊‍♀️ According to Bitwise CIO Matt Hougan, approximately 700 professional firms have invested nearly $5 billion in spot Bitcoin ETFs by the May 15 deadline. He likens this trend to the launch of gold ETFs in 2004, which was reported as the most successful ETF launch. 🥇 But it's not just the big guys getting in on the action. Retail investments make up a significant portion of the funds invested in spot Bitcoin ETFs. Current data shows that the total assets under management (AUM) are approximately $50 billion. 💰 The crypto space is heating up with institutional players like New York advisory firm Pine Ridge Advisers, alternative asset manager Aristeia Capital LLC, Connecticut-based investment firm Graham Capital Management, and New York-based hedge fund manager Boothbay Fund Management all revealing substantial investments in spot Bitcoin ETFs. 🌶️ So, keep your eyes peeled, Bitcoin enthusiasts! The future's looking bright! 🌞

🔥Hot off the press!🔥 Morgan Stanley, the sixth-largest banking firm in the US, has made a whopping $269 million investment in a spot Bitcoin ETF, according to its recently published Form 13-F. The investment was made in Grayscale’s GBTC during Q1 2024. 🚀

This positions Morgan Stanley as one of the largest holders of GBTC, hot on the heels of Susquehanna International Group’s hefty $1.0 billion investment. It's not alone, though! Other big-name banks like Royal Bank of Canada, JP Morgan Chase, Wells Fargo, BNP Paribas, and UBS are also dipping their toes into the Bitcoin ETF pool. 🏊‍♀️

According to Bitwise CIO Matt Hougan, approximately 700 professional firms have invested nearly $5 billion in spot Bitcoin ETFs by the May 15 deadline. He likens this trend to the launch of gold ETFs in 2004, which was reported as the most successful ETF launch. 🥇

But it's not just the big guys getting in on the action. Retail investments make up a significant portion of the funds invested in spot Bitcoin ETFs. Current data shows that the total assets under management (AUM) are approximately $50 billion. 💰

The crypto space is heating up with institutional players like New York advisory firm Pine Ridge Advisers, alternative asset manager Aristeia Capital LLC, Connecticut-based investment firm Graham Capital Management, and New York-based hedge fund manager Boothbay Fund Management all revealing substantial investments in spot Bitcoin ETFs. 🌶️

So, keep your eyes peeled, Bitcoin enthusiasts! The future's looking bright! 🌞

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🚀🚀Buckle up, BTC enthusiasts! Grayscale's upcoming spot Ether exchange-traded fund (ETF) might see an average outflow of a whopping $110 million per day, following the trend set by the company’s Bitcoin Trust in its first month, says a report by Kaiko. 📉 🎉The U.S. Securities and Exchange Commission gave the green light to spot Ether ETFs last week, and it's all eyes on Grayscale now. The Grayscale Bitcoin Trust (GBTC) transitioned to an ETF on January 11 and saw a 23% outflow of its assets under management (AUM) in the first month, amounting to $6.5 billion. 😮 🔮If Grayscale’s Ether Trust (ETHE) sees a similar level of outflows as GBTC, we could be looking at average daily outflows of $110 million, representing 30% of ETH’s average daily volume on Coinbase. Over the past three months, ETHE has traded at a discount of up to 26% to its net asset value (NAV). 🎈Kaiko researchers suggest that once ETHE transitions to a spot ETF, it's "reasonable to expect" outflows or redemptions as this discount narrows. Will Cai, Head of Indices at Kaiko, commented that the SEC’s approval of spot Ether ETFs implies the agency views the underlying asset as a commodity rather than a security, which has significant positive implications for regulating similar tokens in the U.S. 🎯The likelihood of SEC approval became more evident last week after several issuers amended their filings to exclude staking. On May 20, Bloomberg even increased the approval odds from 25% to 75%. 🏁Meanwhile, Grayscale’s Ether Trust (ETHE) discount has narrowed since the SEC initially approved spot Ether ETFs on May 23, though ETHE has yet to begin trading as a spot ETF. 🔍Kaiko analysts highlighted that GBTC’s outflows were offset by inflows into other Bitcoin ETFs by the end of January. They concluded that even if inflows into Ether ETFs “disappoint in the short term,” the approval is significant for ETH and could significantly shift market sentiment toward the asset. 🎉🎉
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🚀🌕 Bitcoin enthusiasts, buckle up! Racer, the co-founder of Friend.tech, has hinted at a possible departure from Base, an Ethereum Layer-2 network launched by Coinbase in 2023. The news has caused a stir in the crypto world, with Friend.tech's token taking a nosedive, down 31.4% to $1.02! 📉😱 Racer has put out a $200,000 bounty for anyone who can devise a smooth migration plan for Friend.tech off of Base. The catch? It should not disrupt users' experience. 🧠💰 The relationship between Friend.tech and Base has been rocky, with Racer stating that the team felt "isolated and disconnected" from parts of the Base and Ethereum ecosystems. Jesse Pollak, who heads Base for Coinbase, responded diplomatically, expressing sadness at the potential departure but promising support for Friend.tech's chosen path. 🤝💔 Friend.tech, launched in August 2023, has been a hot topic, attracting both supporters and critics. The platform, built on Ethereum’s layer-2 scaling network Base, allows users to buy and sell “keys” linked to Twitter accounts. 🐦🔑 Despite the drama, Base Network's activity is surging. Its trading volume has surpassed competitors, thanks to popular projects like Friend.tech and meme coins such as dogwifhat (WIF), Book of Meme (BOME). 🚀🎉 According to Dune Analytics, Base currently has 234,199 active addresses, with 38,087 new ones this week. The network's total profit is a whopping $42.7 million, and its total revenue is $58.67 million. 💰🔥 Stay tuned, crypto fans! The future of Friend.tech and Base is yet to unfold. 🍿👀
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