Soros’ adjustments to Bitcoin
According to monetary word website “The Street” reports, the market is called ” billionaire investor financial predators” Soros( George Soros) of private investment firm “Soros Fund Management Company”( Soros Fund Management) is rumored Trading Bitcoin is part of a wide-ranging exploration of the field of digital assets.
People familiar with the matter said that Dawn Fitzpatrick, the primary investment officer of Soros Fund Management, has agreed to start trading Bitcoin and perhaps other cryptocurrencies in the past few weeks. People familiar with the matter said that Dawn Fitzpatrick and her team have been studying cryptocurrencies for a long time, and the latest action is not just a “small test” on digital assets.
In April 2021, Soros demo expressed support for the crypto room by participating as a tactical collaborator in a $200 M funding round for New York Digital Investment Group, a bitcoin FinTech firm.
And in a Bloomberg interview in March, Dawn Fitzpatrick, CIO of Soros Fund Management, is asked if she owns any bitcoin. She reacts, “I’m not going to answer that.” To which the examiner answers: “That’s what I call a mysterious response.”
As long ago as April 2018, Adam Fisher, a portfolio administrator at Soros Fund Management, reportedly got the green light to begin trading in virtual coins.
ARK Newest step for Bitcoin ETF
“ARK Invest”( ARK Invest ), led by “Female Stock God” Cathie Wood, has become the latest company to apply for the launch of a Bitcoin ETF.
According to the application records entered Monday with the US Securities and Exchange Commission( SEC) present, Ark investment has been encrypted with the Swiss currency ETP suppliers 21 Shares its US subsidiary to cooperate, they intend to launch a record Bitcoin ETF “ARK 21 Shares Bitcoin ETF” by 21 Shares provides as the filer and issuer, and Ark Investment assists in the sale of this Bitcoin ETF.
21Shares is a Swiss-based company that specializes in various exchange-traded products( ETF ). It is worth noting that Cathie Wood is also part of the board of directors of 21 Shares mother company Amun. Harmonizing to data from CoinShares, based on 21 Shares’ asset handling magnitude of more than 1 billion U.S. dollars, the company is currently the world’s fourth largest institutional cryptocurrency concoction issuer.
If the application is approved, this Bitcoin ETF will be listed on the Cboe BZX Exchange, a stock exchange under the Chicago Board of Options Exchange( CBOE ), traded under the symbol “ARKB” and for the purposes of the S&P Bitcoin Index( S&P Bitcoin Index) As a benchmark.
In response to the Bitcoin ETF application, an Ark Investment spokesperson said that the company would not comment. However, after the information was disclosed, it has attracted widespread market courtesy and has been praised by the cryptocurrency industry. According to Anthony Pompliano, founder of digital asset management company Morgan Creek,
21Shares CEO Hany Rashwan and his squad will continue to build the most important and valuable resource administration business in the industry.
An analyst from the cryptocurrency experiment squad MICA Research pointed out that Dow Jones has launched a cryptocurrency indicator in May this year, and related ETF products are expected to be launched one after the other. The Bitcoin mutual fund path is still under progress. The reporter continued :
“Not astonishingly, most of the customer radicals will be retail investors who have not been exposed to cryptocurrencies. In the future, they will be able to purchase cryptocurrency-related fund products through the U.S. broth method, which is expected to bring more external uppercase inflows to the market.”
ETF analyst Eric Balchunas told BNN Bloomberg that if the application is approved, this Bitcoin ETF will have significant benefits for 21 Shares, which means that the company can open the US market.
On the other hand, asset is likewise encrypted Ark currency ranges enormous investors, in addition to Coinbase stock, but the company also nurses encryption monetary asset conduct fellowship “gray investment”( Grayscale Investments) of Bitcoin Trust Fund( GBTC) and Ethernet money Trust Fund( ETHE).
At the same time, Cathie Wood is also a Bitcoin super long. She said last month that although Bitcoin slumped to 30,000 US dollars, she is still securely optimistic on the market awareness. She is more optimistic that Bitcoin will eventually soar to 500,000 US dollars.
In the past three years, the US Securities Regulatory Commission has reviewed multiple Bitcoin ETF lotions, but all of them have been rejected. In recent months, market participants have been speculating that after Gary Gensler, who has taught digital resources trends at MIT, assumes the presidency, the US Securities Regulatory Commission is able to accept a more loosened stance on cryptocurrencies. Under the leadership of onetime chairperson Jay Clayton, the US Securities Regulatory Commission has consistently rejected the proposal to direct the Bitcoin ETF, mainly because of concerns about fraud and market manipulation, which disappointed the industry.
Catherine Wood, the queen of Wall Street investment known as “female Buffett” and “female stock god”, previously used to say that under the leadership of Gary Gensler, the US authorities are more likely to promote the creation of the Bitcoin ETF. Furthermore, she also said that the Bitcoin retracement means that the market is undergoing corrections, which shows that the possibility of the U.S. approving Bitcoin ETFs this year has increased.
