Bitcoin, the largest of the cryptocurrencies, has recently attracted attention for the bad (collapse of FTX, Terraluna, etc.) but above all for the good, but perhaps the media doesn't talk about it enough.
https://twitter.com/Vivek4real_/status/1683779193790779394?t=CamouFhtWOfY1YcqQm7dwA&s=19
Scrolling on X I found this photo and decided to do a little research on it, because perhaps like you I was in disbelief.
The institutions represented in the photo have enormous assets, so much so that I almost have difficulty writing it down in numbers. Well, what if I told you that all of these have already bought Bitcoin or have started funds to buy it? Let's look specifically at their relationship with our most beloved cryptocurrency:
BlackRock, the largest asset management company in the world, launched the BlackRock Strategic Allocation Fund in 2022 to invest directly in cryptocurrencies, including obviously Bitcoin. They acquired a stake in StoneX, a well-known commodity and derivatives trading company that offers cryptocurrency custody services, thus allowing its customers access to Bitcoin through a regulated platform. Finally, this year he applied for Spot ETF approval.
VANGUARD, another giant in asset management companies that launched just this year, an investment fund called Vanguard Bitcoin ETF, allowing its clients direct exposure to the cryptocurrency without having to purchase it directly.
FIDELITY INVESTMENT, recently announced the launch of the new investment fund in Bitcoin and other cryptocurrencies in 2024.
UBS, one of the most important Swiss banks, has launched an investment fund in Bitcoin and other cryptocurrencies called UBS Crypto Exchange Trade Fund, but not it's over here. It acquired a stake in Metaco, a cryptocurrency custodian (same reasons as BlackRock on StoneX).
MORGAN STANLEY, one of the largest banks in the USA, has launched a cryptocurrency custody service for institutional clients, which allows its customers to deposit cryptocurrencies with Morgan Stanley, which will take care of storing them safely. Finally, it has created a research center that focuses on various aspects related to cryptocurrencies, such as security and regulations.
JP MORGAN, one of the largest investment banks in the world, has launched a cryptocurrency trading service for its institutional clients, and is also almost ready with a new payment system through the blockchain using its cryptocurrency "JPM COIN".
STATE STREET GLOBAL ADVISORS (SSGA), another large asset management company that launched a Bitcoin custody service in 2022, while this year announced that it would begin offering its clients a Bitcoin investment fund called the State Street Digital Currency Fund. In 2024.
CREDIT AGRICOLE, a large cooperative bank, launched the Credit Agricole Bitcoin Fund this year and also purchased a stake in Ledger, a well-known French company that produces hardware wallets for cryptocurrencies.
ALLIANZ, one of the most important insurance companies in the world, launched a division dedicated to cryptocurrencies called Allianz Digital Asset in 2022, with the aim of offering products and services related to digital currencies to its customers. Additionally, it purchased a stake in Fireblocks, a French company that provides cryptocurrency custody
I could go on and on, but the concept is already very clear. The interest in BTC in the last two years has reached levels never seen before. But the best is yet to come, great news awaits us especially in 2024 with the Bitcoin halving and the SEC's responses to the requests for approval of BTC Spot ETFs in 2024.
