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Co-Founder of South Africa’s Crypto Index Fund Reveals the Plan to Launch Country’s First Bitcoin ETF

Earle Loxton, the cofounder of EC10 (formerly DCX Capital) the institution behind the South African crypto index fund, says plans are afoot to launch the country’s first exchange-traded fund (ETF). The ETF is expected to offer South African institutional investors an indirect way of getting exposure to bitcoin. According to Loxton, an application for this ETF will soon be lodged with the Johannesburg Stock Exchange (JSE). However, Loxton also reveals in a podcast that before proceeding with the application, EC10 alongside Easy Equities will initially prioritize finding a suitable custodian for its crypto assets. Loxton explained: To get to the…

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Grayscale Investments Scooped Up Over 17,000 BTC in the Last Seven Days

During the last seven days, Grayscale Investments purchased 17,100 BTC or $182 million worth of bitcoin using today’s exchange rates. The company’s bitcoin position is now close to 450,000 BTC worth roughly $4.7 billion. The Grayscale Bitcoin Trust (GBTC) is a very popular investment vehicle and in 2020 the trust has obtained a massive amount of BTC. Today, GBTC has $4.7 billion assets under management (AUM), according to data provided by bybt.com. Grayscale’s bitcoin position is also displayed on the company website as well for transparency purposes. Since the Grayscale Bitcoin Trust inception date on September 25, 2013, there are…

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$4.6 Billion Under Management: Grayscale Purchased Over $100M Worth of Bitcoins Last Week

This week cryptocurrency proponents discussed the firm Grayscale Investments, as the firm purchased 9,702 bitcoins (over $110 million) in the past five days. The news follows Grayscale informing the U.S. Securities and Exchange Commission (SEC) that the Bitcoin Trust (GBTC) grew over $1.6 billion in 2020. Last Friday, Grayscale Investments filed a quarterly report with the SEC detailing that the firm’s Bitcoin Trust (GBTC) has increased significantly in value. The filing notes that the trust increased in value by over $1.1 billion as of June 30, 2020, from over 125,000 BTC to 387,000 BTC. June 30 exchange rates show the…

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Fidelity Digital Assets Quotes Bitcoin Creator Satoshi Nakamoto in Latest Investment Thesis

Fidelity Digital Assets (FDA) quotes Satoshi Nakamoto in its latest investment thesis report. The thesis is part of a series of reports examining the perspectives driving interest and investment in bitcoin. FDA is affiliated with Fidelity through parent company Fidelity Management & Research (FMR). One of the largest financial services corporations in the world, Fidelity has an estimated $7 trillion worth of assets under management (AUM). Commenting on its findings, FDA says it has learned that investors view bitcoin as an aspirational store of value while also noting the limited knowledge about the same by stakeholders. Additionally, FDA observes that…

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Y Curve Interest Rates Reach 2,000%, Assets Under Management Grows Tenfold After Token Launch

Depositors to the Y Curve decentralized finance (defi) pool received as much as 2,000% in interest this Saturday and about 600% (annualized) for the entire day. Before this increase, liquidity providers had been earning an aggregate rate of 10.58%. The latest interest rate growth follows Yearn Finance’s release of a YFI token to govern the Y pool that runs on the Curve defi platform, reports Trustnodes. The same report notes that as soon as the token launched, the assets under management (AUM) in the pool “jumped from about $8 million to $100 million.” Announcing the release of the ERC20 token…

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