Capula Management, Europe’s fourth largest hedge fund, has disclosed it holds nearly $500 million in spot Bitcoin ETFs. The spot ETF market continues to see increased demand despite Bitcoin’s price woes over the past few weeks.

Capula Management, the fourth largest investment manager in Europe, holds nearly $500 million in spot Bitcoin ETFs. According to documents filed with the US Securities and Exchange Commission, the hedge fund manager has acquired $253 million of BlackRock’s iShares Bitcoin Trust (IBIT) and $211 million worth of Fidelity’s Wise Origin Bitcoin (FBTC) ETF. Capula reveals its spot ETF holdings at a time the market is struggling with price downward pressure. Institutional demand for Bitcoin ETFs is however seeing increased traction, with several pension funds among those to buy into the digital asset investment product. In one of the biggest moves, Morgan Stanley became the first major bank on Wall Street to allow financial advisors to pitch spot Bitcoin ETFs to its clients. Data on by Arkham also showed that major holders of BTC, including MicroStrategy, BlackRock, Fidelity and Grayscale have not sold their BTC assets despite the market losses. Bitcoin price On Monday, Bitcoin dipped below $50k to test prices seen in February. However, BTC has bounced above $53k and the crypto market is optimistic of a potential recovery amid Fed interest rate cuts. Earlier in the day, Wharton professor Jeremy Siegel called for the Fed to slash its fund rate by 75 basis points and another similar cut at its next meeting in September.

According to Polymarket bets, bettors are seeing a 29% chance the Fed takes an emergency interest rate cut.

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WILLEMSTAD, Curacao, August 5th, 2024, Chainwire BC.GAME and Cloud9 Esports extend their existing partnership with Cloud9’s acquisition of the Dota 2 esports team Entity.  As part of the deal, the European-based Entity has been renamed Cloud9 BC.GAME Dota 2. Entity is a prominent European Dota 2 team known for its strong performance and high rankings in the competitive Dota 2 scene. The team has consistently demonstrated its prowess in various tournaments and achieved impressive global rankings, recently securing first place at 1win Series Dota 2 Spring 2024. The rebranded Cloud9 BC.GAME Dota 2 team will make its debut at The International 2024, one of the largest events in esports. Cloud9 has a strong track record of supporting the Dota 2 scene. Cloud9 first joined the Dota 2 scene in 2014. Their roster included notable players such as Jacky “EternaLEnVy” Mao, SingSing, Johan “N0tail” Sundstein, and Kurtis “Aui_2000” Ling, which helped establish their presence in the competitive Dota 2 landscape. With their renewed presence, Cloud9 is committed to dedicating significant resources to support the team’s competitive growth and potential. As a leading platform, BC.GAME offers a wide range of esports products, including Counter Strike, Dota 2, and places a strong emphasis on compliance, having recently secured a new Curacao LOK license. CEO of BC.GAME Jack Dorset said, “We are excited to strengthen our partnership with Cloud9 and make significant strides in the Dota 2 scene. This collaboration is an opportunity for us to push the boundaries of what we can achieve in esports and deliver exceptional experiences for our community”. “We’re thrilled to reignite our presence in the Dota 2 scene and further our ongoing partnership with BC.GAME,” said Jack Etienne, Co-Founder and CEO of Cloud9. “BC.GAME’s dedication to supporting our teams and creating engaging content for our fans is invaluable. This collaboration allows us to bring even more exciting experiences to the Cloud9 community.” The Entity acquisition marks the second collaboration between BC.GAME and Cloud9. In August 2022, BC.GAME partnered with Cloud9, becoming their official Gaming and Sports Betting Partner. BC.GAME will continue to support Cloud9 in all CS initiatives while the team strives to bring home major titles. Both partnerships were facilitated by SportQuake, a leading sports marketing agency. About BC.GAME BC.GAME is a community-based crypto platform that offers its players the best online gaming experience possible. Launched in 2017, BC.GAME is among the first platforms to support the Lightning Network. Users can enjoy more than 8,000 games including sports, slots, and live table games. Recently, the platform has partnered with several top brands and athletes, including English Premier League team Leicester City, the Argentina National Football Team, and esports organization Cloud9. Users can learn more:  https://bc.game About Cloud9 Esports Cloud9 Esports is a leading esports team that competes in various games and tournaments. Founded in 2013, Cloud9 rapidly emerged as one of the pioneering esports organizations in North America. Cloud9 Esports boasts several remarkable accomplishments that include clinching the 2018 Rocket League World Championship, emerging victorious in the inaugural Overwatch World Championship, and holding the distinction of being the sole North American team to secure a Counter-Strike Major win and advance to the semi-finals of the League of Legends World Championship. Users can learn more: https://cloud9.gg/

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