After a lingering closer to $50,000 support, Bitcoin saw a boost as mainstream media reported a market entry soon to come from Morgan Stanley. According to unnamed sources talking to CNBC, the bank will provide wealthy clients with $2 million or more in assets exposure to three Bitcoin funds.
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Markets Report: PlanB says Bitcoin price ‘Won’t stop at $100K’ despite price dip
Little interest in this week’s price retracement as attention focuses on a “game-changing” institutional adoption wave reportedly soon to hit the headlines
As for institutional adoption, “...I don't think, I know, starting more or less next week, you're going to see an absolute drumbeat of pretty game-changing milestones from some of these firms,” said NYDIG CEO Robby Gutmann.
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Markets Report: Bitcoin sees $17,600 lows but institutions keep buying
Sentiment shifts to the mid to long-term prospects for Bitcoin as price action takes a definitive breather from the bull run
Bitcoin is ending another week on a bearish note as it explores more of a giant $1,300 futures gap and bulls are nowhere to be seen. As volatility lessens but a lack of buyer support leaves the bull run short of steam, talk is turning to where a realistic floor might lie.
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Asset manager NYDIG crypto fund raises $100M from a single investor
The asset manager raised another $50 million for a second fund from just two more backers
Filings made with the United States Securities and Exchange Commission (SEC) by NYDIG reveal that the firm’s Digital Assets Fund I raised $50 million from two investors, while its Digital Assets Fund II raised a further $100 million from one single entity. Crypto industry news outlet The Block suggested that NYDIG’s Digital Assets Fund I tracks only Bitcoin, while the nature of the second fund remains largely unclear.
