Cartwright, a British pension specialist, has taken a significant step forward in the institutional embrace of cryptocurrencies by guiding the country’s first pension fund into bitcoin. According to Corporate Advisor, the fund committed 3% of its £50 million assets to bitcoin, marking a bold shift in asset management after extensive discussions on ESG concerns, investment benefits, and security.

This move is a noteworthy deviation from traditional investments as the fund directly invested in bitcoin rather than through proxies like ETFs. The investment’s security is reinforced by distributing the private key across five separate institutions. This direct investment contrasts sharply with the State of Wisconsin’s pension plan, which previously invested a mere 0.1% of its assets in bitcoin via an ETF.

Further cementing its commitment to cryptocurrency, Cartwright announced the launch of a Bitcoin Employee Benefits scheme, allowing employers to deposit bitcoin into employee wallets. With five companies already expressing interest, this initiative positions Cartwright at the forefront of integrating bitcoin into standard financial practices.

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On November 4, 2024, the daily net flow of U.S. Bitcoin ETFs predominantly showed a decrease across various funds, with a few exceptions. Notable outflows were observed in some of the larger ETFs, including Grayscale’s GBTC which saw a reduction of 454 BTC and Fidelity’s FBTC, which decreased by 409 BTC. ARK’s Bitcoin ETF (Ticker: ARKB) also reported a significant outflow of 349 BTC, while VanEck’s (Ticker: HODL) and Valkyrie’s (Ticker: BRRR) funds experienced smaller declines of 198 BTC and 85 BTC, respectively.

Conversely, Invesco Galaxy’s BTCO was a standout with a positive net flow, gaining 152 BTC. Bitwise’s Bitcoin ETF (Ticker: BITB) saw a modest decrease of 82 BTC, indicating a relatively stable performance compared to its peers.

Overall, the total holdings of these ETFs summed up to 1,003,533 BTC, reflecting a collective net outflow of 1,425 BTC for the day, which corresponds to a value decrease of approximately $96.5 million. This activity suggests a day of cautious trading or profit-taking across the U.S. Bitcoin ETF market.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Analysts at Bernstein are bullish on Bitcoin, setting a striking price target of $200,000 by the end of 2025, regardless of the upcoming U.S. election results. This confidence stems from factors like U.S. fiscal policies, burgeoning debt levels, and the launch of U.S. spot Bitcoin ETFs which are seen driving demand for Bitcoin as a hard asset. According to Bernstein, “The Bitcoin genie is out of the bottle, and it is hard to reverse this course.”

The presidential race shows varying support with Donald Trump viewed as the pro-crypto candidate, potentially boosting Bitcoin prices to new all-time highs by inauguration day. On the other hand, a win by Kamala Harris could momentarily push Bitcoin prices down, although recovery is anticipated. Current trading on prediction markets like Polymarket and Kalshi shows a highly competitive race, with odds adjusting rapidly in response to the latest polls.

Regardless of who wins, the crypto industry looks set to flourish. Bernstein suggests that a supportive regulatory environment under either administration could foster growth across all crypto sectors, not just Bitcoin. This includes potential advantages for other blockchain technologies and a continued focus on domestic Bitcoin mining, highlighting a robust future for cryptocurrency investments.

Co-founder of BTC Media eleven years ago, I am passionate about the future of Bitcoin – and in the spirit of free speech and democracy on this election eve – I feel compelled to share my first Bitcoin Magazine opinion article. Weeks ago our editor-in-chief, Aaron Van Wirdum, published his Take, “Trump Does Not Give a Damn About Bitcoin,” and he invited submissions of a counter-take.

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Digital asset investment products celebrated a staggering $2.2 billion in inflows last week, pushing 2023’s total to an unprecedented $29.2 billion. This surge, spurred by anticipation of a potential Republican victory in US elections, underscores a growing investor confidence in cryptocurrencies. Bitcoin led the charge with the majority of the inflows, while Ethereum and Solana also saw notable increases. The total assets under management (AuM) have now soared past $100 billion, revisiting the peak levels of early June 2024.

The US dominated these inflows, capturing $2.2 billion, with Germany also contributing. Despite a slight retreat in investment at week’s end due to shifting poll results, the overall market activity remained vigorous. Trading volumes leaped by 67% week-over-week, emphasizing the robust market dynamics currently at play.

Interestingly, while Bitcoin continued to attract the lion’s share of capital, alternative coins like Solana and Polkadot also experienced gains. Ethereum’s modest inflow of $9.5 million reflects a more cautious investor sentiment towards it, in stark contrast to the more bullish trends surrounding other major cryptocurrencies. This week’s financial movements highlight the significant impact of political events on cryptocurrency markets.

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Ethereum, often likened to Amazon in its early days, holds untapped potential that could reshape the digital landscape. According to 21Shares research analyst Leena ElDeeb, the cryptocurrency has not yet reached its full potential, reminiscent of Amazon before it transformed into a tech behemoth. With Ethereum’s complex architecture supporting a burgeoning $140 billion in decentralized finance applications, its real-world utility is just starting to unfold.

Despite its promising horizon, Ethereum’s growth trajectory in terms of investment inflows lags behind that of Bitcoin. This is evident from the modest uptake of newly launched spot Ether ETFs, suggesting a cautious approach from investors unfamiliar with Ethereum’s capabilities. Federico Brokate of 21Shares notes the substantial developer community behind Ethereum, which outstrips Amazon’s early workforce, indicating a robust foundation for future innovations.

As the understanding of Ethereum’s diverse applications improves, market maturity is expected to drive investor sentiment and adoption. 21Shares remains optimistic about Ethereum’s path, paralleling Amazon’s ascent, with potential revolutionary use cases that could surprise the financial and tech ecosystems.

Cointelegraph