Crypto Biz: Crypto fever hits wealth managers #CryptoNewsCommunity
This week’s Crypto Biz explores the launch of new crypto ETFs, CleanSpark’s acquisition of new mining sites, another round of conflict between Bitfarms and Riot, and more.
Wealth advisers are adopting Bitcoin exchange-traded funds at an unprecedented rate, faster than any previous ETF in history, according to Matt Hougan, chief investment officer at Bitwise.
The surge is primarily driven by financial advisers such as registered investment advisers and large firms like Morgan Stanley. BlackRock’s iShares Bitcoin Trust ETF alone has attracted $1.45 billion in flows from wealth managers.
Asset management firms are also looking to offer diversified exposure to blockchain technology. Over the past few days, State Street and Galaxy launched three new funds to provide alternative strategies for institutional investors.
“We believe the next evolution of this market is the introduction of actively managed digital asset portfolios,” Anna Paglia, State Street’s chief business officer, said in a statement.
This week’s Crypto Biz also explores CleanSpark’s acquisition of seven mining sites in the US state of Tennessee, Standard Chartered’s custodian services in the United Arab Emirates, and another round of corporate conflicts between Bitfarms and Riot.
State Street, Galaxy launch three new crypto ETFs #ETFNewsUpdate
Asset managers State Street Global Advisors and Galaxy Asset Management launched three new cryptocurrency ETFs on Sept. 10, according to an announcement from State Street. The ETFs are designed to capitalize on the growth of Web3. State Street said the funds include the SPDR Galaxy Digital Asset Ecosystem ETF, the SPDR Galaxy Hedged Digital Asset Ecosystem ETF, and the SPDR Galaxy Transformative Tech Accelerators ETF.
CleanSpark acquires seven mining sites in Tennessee, hashrate to grow 22%
BTC = $59,917
miner CleanSpark has reached an agreement on the purchase of seven cryptocurrency mining.
