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U.S. pension fund buys $25 million worth of Bitcoin and Ether

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U.S. pension fund buys $25 million worth of Bitcoin and Ether

Oct 21, 2021
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Share this post

U.S. pension fund buys $25 million worth of Bitcoin and Ether

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Houston Firefighters’ Retirement Fund buys crypto, BITO reaches $1.1 billion AUM in two days, Paul Tudor Jones says he prefers crypto to gold, Tesla haven't sold or bought any more Bitcoin


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Quick Take:

  • Houston Firefighters’ Retirement Fund buys crypto

  • BITO reaches $1.1 billion AUM in two days

  • Fixed-income giant Pimco has ‘dabbled in crypto’

  • PTJ says he prefers crypto to gold as an inflation hedge

  • Tesla haven't sold or bought any more Bitcoin

  • Crypto exchange FTX valued at $25 billion

  • Grayscale files to convert GBTC into a spot Bitcoin ETF


Houston pension fund buys $25 million worth of Bitcoin and Ether

The Houston Firefighters’ Relief and Retirement Fund, which has over $4 billion of assets, said it invested $25 million in Bitcoin and Ether through NYDIG, a Bitcoin-focused subsidiary of asset manager Stone Ridge. 

“It became an asset class we could not ignore anymore,” Ajit Singh, the chief investment officer for fund told Bloomberg.


ProShares Bitcoin Strategy ETF reaches $1.1 billion AUM in just two days

The ProShares Bitcoin Strategy ETF reached $1.1 billion in assets under management in just two days since its launch, the shortest time that any ETF has taken to hit that mark.

The second-ever U.S. Bitcoin futures ETF, the Valkyrie Bitcoin Strategy fund, will also begin trading on the Nasdaq exchange on Friday, a spokesperson for the company said.


Fixed-income giant Pimco has dabbled in cryptocurrencies, plans to invest more

Fixed-income giant Pimco has dabbled in cryptocurrencies and plans to gradually invest more in digital assets that have the potential to disrupt the financial industry, according to chief investment officer Daniel Ivascyn.

”Now we’re looking at potentially trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the fundamental side,” Ivascyn said in an interview with CNBC’s Leslie Picker for Delivering Alpha.


Paul Tudor Jones says he prefers crypto to gold as an inflation hedge

Billionaire investor Paul Tudor Jones told CNBC on Wednesday he views cryptocurrency right now as a better hedge against inflation than gold.

“It would be my preferred one over gold at the moment,” Jones said in a “Squawk Box” interview. “Clearly, there’s a place for crypto. Clearly, it’s winning the race against gold at the moment.”


More highlights:

Crypto exchange FTX valued at $25 billion

Tesla haven't sold or bought any more Bitcoin

Tether responds to the bounty from Hindenburg Research

Digital Currency Group to purchase $1B worth of GBTC

Global investment bank Nomura to enter crypto market

Coinbase and the NBA announce multiyear partnership

Grayscale files to convert GBTC into a spot Bitcoin ETF


That's it, you’re up-to-date.

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Disclaimer: The information provided in our reports are intended for general guidance and information purposes only. Contents of this report are under no circumstances intended to be considered as investment, business, legal or tax advice. We do not accept any responsibility for individual decisions made based on this article and we strongly encourage you to do your own research before taking any action. Although best efforts are made to ensure that all information provided herein is accurate and up to date, omissions, errors, or mistakes may occur.
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U.S. pension fund buys $25 million worth of Bitcoin and Ether

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