• Who Is Buying The Bitcoin ETFs?

• Will Bitcoin 7x In The Next 12 Months?

• Why Bitcoin Adoption Is Like Gunpowder

• And more…

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WHO IS BUYING THE BITCOIN ETFs?

BREAKING: In Q2, Goldman Sachs and Morgan Stanley made significant investments in U.S. spot Bitcoin ETFs, according to new 13F filings.

Bitcoin is steadily attracting institutional investors, as evidenced by the quarterly 13F reports that investment managers with over $100 million in assets must submit to the SEC.

Matt Hougan, Chief Investment Officer at Bitwise, has analyzed these filings to pinpoint which institutions are backing Bitcoin ETFs.

Here’s what he found:

1. Growing Institutional Interest

Matt’s analysis of the Q2 13F filings revealed 1,924 holder/ETF pairs, up 30% from the previous quarter’s 1,479 pairs.

2. Stable Institutional Support

The data shows that most institutional investors who entered in Q1 either held their ground or increased their exposure in Q2:

• 44% increased their positions 😊

• 22% held steady 😐

• 21% decreased their investments 😕

• 13% exited 🙅

Matt notes that these figures are consistent with trends seen in other traditional ETFs.

A highlight of the 13F filings is Goldman Sachs revealing a $418 million stake in Bitcoin ETFs.

Meanwhile, Morgan Stanley, fresh off approving Bitcoin ETFs for their clients, disclosed a $188 million investment in BlackRock’s IBIT.

This is just the start. Institutional adoption of Bitcoin ETFs is on the rise…

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WILL BITCOIN 7x
IN THE NEXT 12 MONTHS?

Recent data reveals that a legendary trader has been doubling down on Bitcoin.

Following his first investment, Bitcoin achieved a ~7x increase in the subsequent 12 months.

This legendary trader is billionaire Paul Tudor Jones.

Is history about to repeat? 🔁

For those unfamiliar, Paul Tudor Jones is a well-known American investor and an incredibly successful hedge fund manager.

His success is reflected in his net worth of approximately $8 billion dollars. 🤯

This week, 13F filings disclosed the major buyers of BlackRock’s Bitcoin ETF (IBIT).

Among the top buyers are several industry giants. 🐋

However, in 11th place is Tudor Investment Group, the hedge fund managed by Paul Tudor Jones.

This is noteworthy. Paul Tudor Jones first became a public buyer of Bitcoin in May 2020.

At that time, Jones dubbed Bitcoin the ‘fastest horse’ in the race, with a price of $8,000 per coin.

A year later, Bitcoin was valued at approximately $60,000 per coin.

A 7x increase in just one year. 👏

Will history repeat?

Only time will tell—but it’s promising to know that a legendary trader is still buying at these prices.

With so many elite entrepreneurs & investors purchasing Bitcoin…

How can you not be bullish?! 🐃

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WHY BITCOIN ADOPTION
IS LIKE GUNPOWDER

Bitcoin maximalist, Max Keiser, warns that, as Bitcoin becomes more important in the global financial system, both people and nations must adopt it or risk serious consequences.

He compares this to the invention of gunpowder, where those who didn't adapt to the advancing technology were defeated.

Keiser emphasizes the need to embrace bitcoin, pointing to Robert F Kennedy Junior's idea of putting Bitcoin on America's balance sheet as a smart move.

While other leaders might fall behind in what he calls World War Bitcoin.

Make sure to watch this next clip, where Max keiser reveals some eye opening insights into the adoption of Bitcoin.

OTHER NEWS:

• Senate leader Chuck Schumer back positive crypto reform in 2024. Last night, Aug. 14, at a Crypto4Harris event, Senate Majority Leader Chuck Schumer and other prominent Democrats expressed strong support for crypto.

• Bitcoin stagnates as bearish headwinds continue to blow. Bitcoin’s negative funding rate, reduced demand for stablecoins in China and a handful of macroeconomic issues are all impacting BTC’s bearish price action.

• Bitcoin Mining Was Less Profitable in July Than June, Jefferies Says. U.S.-listed mining companies produced a larger share of bitcoin in July than the previous month as they brought on new capacity faster than the network hashrate rose.

• SEC approves first leveraged long MicroStrategy ETF. Defiance ETFs has launched MSTX, the first single-stock leveraged long exchange-traded fund (ETF) for MicroStrategy.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.