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The State of Wisconsin Investment Board (SWIB) has stacked up an additional 3.1 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), pushing its total Bitcoin ETF holdings to around $588 million, according to an SEC 13F filing for Q4 2024 that was released today. On the other side of the world, Abu Dhabi’s Mubadala Investment Company has also invested $436.9 million into IBIT.

SEC filings confirm that Wisconsin was the first US sovereign fund to step into Bitcoin ETFs, initially buying nearly 95,000 IBIT shares in March 2024. By August, that number had exploded to 2.9 million, and as of press time, the pension fund holds over 6 million shares.

Abu Dhabi invests over $400M into Bitcoin

Meanwhile, Mubadala’s filing shows its Bitcoin ETF buy happened around November, which was also the month that BlackRock got its UAE crypto license.

Mubadala’s investment falls in line with Abu Dhabi’s broader digital asset strategy. The UAE has been developing a strong regulatory system, starting with the Securities and Commodities Authority’s Decision No. (23) in 2020, which required crypto firms to secure approvals and licenses.

That was followed by Administrative Decision No. (11) in 2021, adding more guidance for virtual assets. Then, in December 2022, the UAE Cabinet introduced Resolution No. (111), creating a nationwide framework for crypto businesses and free zones.

Dubai’s Virtual Assets Regulatory Authority (VARA) was established to oversee crypto regulations in Dubai, VARA sets licensing requirements for Virtual Asset Service Providers (VASPs) and enforces compliance standards.

Crypto companies looking to operate in Dubai must meet strict regulatory requirements, including obtaining a full license and complying with tough Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT) rules.

Under Dubai’s Virtual Asset Service Provider (VASP) law, firms must first secure Initial Approval, and then apply for a full operational license, which must be renewed annually.

Wisconsin and Abu Dhabi aren’t the only institutional players making moves in Bitcoin ETFs. Barclays, one of the world’s largest banks, has disclosed a $131 million investment in IBIT. The Q4 SEC filings also show that investment giants like Goldman Sachs and JPMorgan have ramped up their Bitcoin ETF exposure.

Avenir Group Holdings also holds $599 million worth of IBIT shares, proving once again that BlackRock’s IBIT is the most successful ETF launch in history.

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ANYTHING FOR XRP BETWEEN $2 AND $3.40 IS NOISE!

So, it seems like there's been some buzz around XRP's price movements, and one analyst is saying that anything between $2 and $3.40 is just "noise" .

Essentially, this means that the analyst thinks XRP's price will fluctuate within this range without any significant impact on its overall trend.

To break it down further, the analyst identified five lower price targets that XRP needs to hold above to maintain its bullish momentum: $2.21, $2, $1.8, $1.74, and $1.6 ¹. On the flip side, there are also five upper targets that could confirm a major price run: $2.62, $2.75, $2.94, $3.22, and $3.40 .

It's worth noting that XRP's current price is around $2.75, with a 12.43% increase in the past 24 hours .

However, another analyst is sounding the alarm, warning that XRP is nearing the end of a 12-year cycle, which could trigger a severe correction down to $0.1.

So, it's essential to keep an eye on these developments and consider multiple perspectives before making any investment decisions.

So, it seems like there's been some buzz around XRP's price movements, and one analyst is saying that anything between $2 and $3.40 is just "noise" . Essentially, this means that the analyst thinks XRP's price will fluctuate within this range without any significant impact on its overall trend.

To break it down further, the analyst identified five lower price targets that XRP needs to hold above to maintain its bullish momentum: $2.21, $2, $1.8, $1.74, and $1.6 . On the flip side, there are also five upper targets that could confirm a major price run: $2.62, $2.75, $2.94, $3.22, and $3.40 .

It's worth noting that XRP's current price is around $2.75, with a 12.43% increase in the past 24 hours However, another analyst is sounding the alarm, warning that XRP is nearing the end of a 12-year cycle, which could trigger a severe correction down to $0.1 . So, it's essential to keep an eye on these developments and consider multiple perspectives before making any investment decisions.

Congratulations to Brian Quintenz on his appointment as Chair of the Commodity Futures Trading Commission (CFTC).

This rounds out an incredible group of thoughtful, principled leaders who understand crypto and what this innovation means for the US and rest of the world.

This stellar group includes, Paul Atkins at the Securities and Exchange Commission (SEC), Scott Bessent at the Treasury Department, Jonathan Gould at the Office of the Comptroller of the Currency (OCC), Jonathan McKernan at the Consumer Financial Protection Bureau (CFPB), David Sacks as the White House AI and Crypto Czar, and Hester Peirce leading the SEC’s new Crypto Task Force. Special recognition also for Acting CFTC Chair Caroline Pham and Acting SEC Chair Mark Uyeda.

Excited to see the positive impact this team will have on the future of digital assets! 🚀