Luxembourg Bets On Bitcoin As Sovereign Fund Adds 1% Exposure To BTC ETFs
In an announcement made yesterday, Luxembourg’s Finance Minister disclosed that the European country’s Intergenerational Sovereign Wealth Fund (FSIL) is set to allocate 1% of its total portfolio to Bitcoin (BTC) exchange-traded funds (ETFs) and other cryptocurrencies. Luxembourg Wealth Fund Invests In Bitcoin In a major nod of approval for Bitcoin as a mainstream asset, Luxembourg’s […]
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SEC chair Gary Gensler recently hinted he would be more open to accepting ETFs based on crypto futures rather than through direct exposure. Asset manager VanEck is filing for a Bitcoin Strategy exchange-traded fund after it unsuccessfully attempted to launch a similar fund four years ago. According to U.S. Securities and Exchange Commission, or SEC records, VanEck filed a prospectus for a Bitcoin Strategy exchange-traded fund, or ETF, on Aug. 9. Unlike its Bitcoin (BTC) or Ether (ETH) ETFs currently under review by the federal agency, the proposed fund would not invest in BTC directly, but....
The Canadian investment manager said the allocation seeks to improve the two funds’ risk-adjusted returns in the future.
Luxembourg-based blockchain company Scorechain has announced a new initiative, comprising ten organizations, to explore blockchain technology benefits for the local fund industry. Scorechain first entered the Bitcoin space in 2014, launching the bitcoin wallet Yallet. Then in 2015 the company raised a $570,000 seed round, aiming to provide compliance and....
Luxembourg-based Bitcoin startup CoinPlus raises €172,500 in a first round of funding, and waits to meet with Luxembourg's financial regulator at the end of September. In a press release, CoinPlus CEO Christian Bodt, said there was still a long way to go, but remains optimistic. He added that an additional funding round was planned to occur before the end of the year. "The choice of Luxembourg was [obvious]. The country offers high-standard technical and administrative infrastructures, service providers at the cutting edge of technology, proximity with relevant authorities, as well as....
Despite the lack of United States-based Bitcoin ETF, hundreds of funds have made significant investments into the blockchain and crypto industries. Numerous U.S.-traded exchange-traded funds, or ETFs, are loading up on shares in the world’s top crypto firms.According to ETF.com, hundreds of funds have invested in publicly-listed companies that are holding BTC on their balance sheets. As of this writing 88 ETFs hold MicroStrategy shares, while 144 ETFs hold Square, and 222 ETFs hold Tesla. Sixteen ETFs have direct exposure to Bitcoin mining stocks.Almost 200 ETFs hold shares in BlackRock,....