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Benefits of Using Credit Cards



Are you considering applying for a credit cards?

Outlined below are the advantages of utilizing a credit

card for making purchases.

Getting rewarded for your credit card use

Nowadays, almost every available type of credit card has

some type of reward connected with it. Offering perks

and freebies is the number one method used by credit

card companies for soliciting business. They will never

go head-to-head, offering lower interest rates. When you

pay your credit card balance every month, you will earn

a tremendous amount of ‘rewards’. On the contrary, if

you neglect to make your payments in full, the amount of

money you end up paying in interest in likely going to

cost you more than of the ‘rewards’ you receive.

There are many different types of reward credit cards


Some of the more popular include:

Cash rebates on purchases – Common annual

savings are 1% on all purchases. At the end of the year

you will either receive credit for the rebate total or a

rebate check will be sent to you.

Airline miles – You will earn one frequent

flier mile for every dollar that you spend. Miles are

typically worth two or three cents each.

Gas rebates – When you use your credit card for filling up your car, you will

receive a discount on gas when you use this type of

credit card.

Store and restaurant discounts – These types of credit cards offer savings at participating

restaurants and stores when used.

Free merchandise – Many credit cards offer

seasonal rewards for card holders.

Some more advantages of using credit cards….

Eliminate stress at the airport – When you use a credit card to buy a plane ticker, it is

viewed as non-suspicious by the FAA. As a result of terrorism,

using cash to pay for a ticket is looked at as very

suspicious and will likely result in you being detained and question.

Protection from bankrupt airlines – Using a

credit card to buy an airline ticket offers you

protection from losing money in case the airline goes


Stop payment rights – One of the best

advantage of using credit cards for making purchases is

the ability to make stop payments in the event an item

is never received or is broken. For example, say you buy

something on the Internet, but you never receive it, you

can contact your credit card issuer and initiate a stop

payment on the product.

Improving or rebuilding credit – No matter if you have bad credit or no credit, when used

responsibly a credit card is one the most effective means of improving credit

ratings and scores. Responsible credit card use means making timely payments

every month and not going over your available credit limit. You do not have to

pay your balance in full, just on time. A good rule of thumb is to not spend

more than 15% of your available line.

Extended warranty, theft and damage protection – Many credit cards offer added warranty, theft and damage protection on purchases made with the card.

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16 Percent Urban Indians Are Investors in Cryptocurrency as per Survey



16 Percent Urban Indians Are Investors in Cryptocurrency as per Survey
  • Bitcoin owners and investors have a diverse portfolio.
  • 20% of urban Indians in the top four metros hold bitcoin.

According to Survey by Kantar, 83 percent of urban Indians are aware of bitcoin, and 16% possess it. The study shows that bitcoin sentiment is volatile, with tweets or news on cryptocurrency immediately impacting mood.

The majority of Indians are learning about cryptocurrencies and whether or not it’s worth their time and money to invest in them. 

Kantar’s insights division executive director, Anand Parameswaran, said:

“This is the first of its kind research study on cryptocurrency in India. We met close to 2,000 consumers and saw that awareness levels are clearly quite high. Consumers are willing to invest in the product and are looking at diversification of their portfolio among high-risk products. Engagement with various crypto exchanges also indicates that ownership numbers seem likely to increase in future.”

Net Sentiment is Higher for Ethereum

According to a recent survey, 20% of urban Indians in the top four metros hold bitcoin, while private banking clients own 19%, and those aged between 21 and 35 years own 17%. The owners are more risk-averse while investing in shares (31%), mutual funds (21%), and life insurance (16%).

Also, bitcoin owners and investors have a diverse portfolio. Non-crypto owners possess an average of 4.6 financial goods, whereas non-intenders hold an average of 3.6. Surprisingly, one in every two customers planning to invest are repeat investors. 

Also, 19% of Indians polled want to invest in cryptocurrencies in the next six months. However, this compared to plans to invest in mutual funds (49%) and stocks (33%) in the following six months are way lower.

The top five favoured currencies in terms of ownership are Bitcoin (75%), Dogecoin (47%), Ethereum (40%), Binance Coin (23%), and XRP (18%). The net sentiment is higher for Ethereum than Bitcoin (41). It is also more significant than that of Bitcoin for other cryptos such as Dogecoin and XRP.

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Facebook Allocates $50M Fund to Research Metaverse Development



Facebook Allocates $50M Fund to Research Metaverse Development
  • Facebook allocates $50M fund to research metaverse development.
  • Facebook will integrate with policymakers, experts, and industry partners.
  •  Metaverse even takes a lot of time to develope.

One of the popular social media Facebook announced, it will allocate $50 million for the fund that focuses on metaverse research. Facebook will integrate with policymakers, experts, and industry partners, mentioned by Facebook Reality Labs VP, Andrew Bosworth and Nick Clegg, a VP of Global Affairs.

Accordingly, the executives also stated that the metaverse research will help to build human connection despite physical distance and without connection to devices. The program aims to make sure that the products would be built accordingly. Even more, metaverse will not happen in just one night but rather it will take a 10–15-year journey.

In the note, the metaverse, a term that used to refer to a digital space within virtual platforms like online games, social media, and virtual reality. Metaverse is not just spending more time online but it is about developing the time you do spend online in a meaningful manner.

Henceforth, a two-year research fund focused on developing the metaverse equitable and fair and finding particular challenges within the space. The massive expansion of metaverse proves that there is much more opportunity in the program.

More so, Facebook intention to move even further as it promised that the metaverse will operate even the Facebook is there or not. Metaverse even takes a lot of time to develop. The social media, Facebook is also planning to build its cryptocurrency project. But it has faced lots of negativity throughout the years concerning privacy or lack of it. 

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Bitcoin Bearish Signal: On-Chain Data Shows Whales Have Started Selling



Bitcoin Bear

On-chain data shows whale ratio has exceeded the 0.50 mark, historically a sign that whales are dumping in the short term.

Bitcoin Whales Have Started Selling Their Coins

As pointed out by a CryptoQuant post, the Bitcoin whale ratio has started going up above the 0.50 level. This signal has usually meant a bearish outlook for the crypto in the short term.

The BTC all exchanges whale ratio is an indicator that gives an estimation of how many whales are sending their coins to exchanges.

The metric does so by taking the sum of the top 10 transactions to each exchange and dividing it with the total inflow on all exchanges.

Exchange Whale Ratio= Sum of Top 10 Exchange Inflow TXs (BTC) ÷ Total Exchange Inflows in BTC

The “inflow” is another indicator, it gives the total amount of Bitcoin entering into exchange wallets from personal ones.

When the whale ratio rises, it means the top 10 transactions to exchanges are taking up a larger part of the total BTC going into these exchanges.

This means more whales have started sending their coins to exchanges, either for withdrawing to fiat or stablecoins, or for purchasing altcoins.

On the other hand, when the value moves down, it means the general small transactions make up the majority of the inflows to exchanges, and that Bitcoin whales aren’t moving their coins around at this time.

Related Reading | Could A Bitcoin Bull Flag Leave Bears Blindsided

Here is a chart showing the trend in the value of the indicator over the past year:

The Bitcoin whale ratio has once again started climbing up | Source: CryptoQuant

As the above graph shows, the whale ratio has soared many times in the past year, and whenever it has, a crash in the price of the coin has also followed shortly after.

Related Reading | JPMorgan Analysts Say That Big Money Are Dumping Bitcoin For Ethereum

Looks like the whale ratio has once again started to move up as its value now crosses 0.50. This could indicate that BTC might move down next in the short term at least.

BTC Price

At the time of writing, Bitcoin’s price floats around $42k, down 3% in the last seven days. Over the last month, the crypto has lost 13% in value.

The below chart shows the trend in the price of the coin over the last five days:

Bitcoin Price Chart

BTC's price seems to have crashed down once again | Source: BTCUSD on TradingView

After showing some recovery from the crash due to news about China’s ban, Bitcoin has once again crashed down back to $42k after going up near $44.5k.

If the whale ratio is anything to go by, the price might continue to move further down in the short term. Maintaining above $40k is going to be crucial for any big moves forward.

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3 Most Visited Cryptocurrency: BALPAC, EPICHERO, BonusCake



3 Most Visited Cryptocurrency: BALPAC, EPICHERO, BonusCake
  • The 3 most visited cryptocurrencies are BALPAC, EPICHERO, BonusCake.
  • BALPAC is a decentralized community token.
  • A 3D NFT game that works on BSC is EpicHero 3D NFT (EPICHERO). 

The top 3 most visited cryptocurrencies are Baby Alpaca (BALPAC), EpicHero 3D NFT (EPICHERO), and Bonus Cake (BonusCake).

1. Baby Alpaca (BALPAC)

Baby Alpaca (BALPAC) is a decentralized community token. It operates on a hybrid dividend mechanism. The holders of BALPAC will receive rewards from ALPACA. Moreover, ALPACA is Alpaca Finance’s native token. Some of the features of BALPAc are Anti whale and Bot Controls. Gaming and NFTs, gaming portal, integration of polygon, fully doxed team, and some more.

As per CoinMarketCap, Baby Alpaca’s (BALPAC) price is trading at $0.0000733, with a 24-hour trading volume of $41,129.

2. EpicHero 3D NFT (EPICHERO)

A 3D NFT game that works on the Binance Smart Chain (BSC) is EpicHero 3D NFT (EPICHERO). Binance coin (BNB), offers incentives to its users. Due to the non-fungible token (NFT) reflection rewards and burning operation, it is self-described as the Safemoon of NFT. Accordingly, in EpicHero Card Marketplace, players can trade battle card NFTs via ERC-21 tokens. Furthermore, the crypto token of the EpicHero NFT game is EPICHERO.

According to CoinMarketCap, at the time of writing EPICHERO price is trading at $0.3615 with a 24-hour trading volume of $107,659.

3. Bonus Cake (BonusCake)

The 3rd most visited cryptocurrency is Bonus Cake (BonusCake). The largest CAKE reflection token on the Binance Smart Chain (BSC) is BonusCake. More so, it is one of the CAKE rewards tokens with a unique feature. BonusCake unique reward system is prompted by volume. As per CoinMarketCap, BonusCake holds the 2897th position.

At press time BonusCake’s price is trading at $0.00003939 with a 24-hour trading volume of $1,922,903. In the last 24-hour BonusCake has gained over 38%.

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COTI Price Soars Over 74% in a Week



COTI Price Soars Over 74% in a Week
  • In the last 7 days, the COTI price soars over 74%.
  • Within seven days COTI price was gained from $0.33 to $0.57.
  • COTI has been listed in the App.

The first enterprise-grade fintech platform which is designed to develop the private payment solution and digitize any currency is the COTI platform. Recently COTI has reached its new all-time high (ATH) of $0.6665. And in recent days it continuously showing a bullish trend. And in the last 7 days, COTI price soars over 74%.

COTI helps companies to easily create advanced fintech products and save time, data, and money. The platform’s application COTI pay will process all types of payment both online and offline payments in crypto and stablecoins.

In the COTI platform, users can issue their own created stablecoins and get control over both their money and their data. COTI platform made the system more secure for buyers and traders. It provides users a trusted, faster and reasonable payment mechanism.

Current Market Status

At press time, the COTI price is waving at $0.5748 with a 24-hour trading volume of $627,748,180. As per CoinMarketCap, the circulating supply of COTI is 868,672,118.03 COTI. Currently, traders can trade COTI in top exchanges such as Huobi Global, Binance, Mandala Exchange, ZT, and HitBTC.

The above chart displays the 7 days price chart of COTI, it shows a continuous bullish trend. In the last 24 hours, COTI gained 12.73%. And in the last 7 days, COTI has soared over 74%. Within seven days COTI price was gained from $0.33 to $0.57.

Recently, COTI has been listed in the App. It supports over 100 cryptocurrencies and stablecoins that include the leading cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Polkadot (DOT), Chainlink (LINK), and so on.

Furthermore, the users of can now purchase COTI using USD, EUR, GBP, and other fiat currencies. Therefore, this might be the price soar for COTI. And traders can expect more bullish in the coming days, with the upcoming updates, announcements, and upgrades.

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Over $5 Billion In Bitcoin And Ethereum Moved From Cold Wallets Amid China Crackdown



Picture of a gold bitcoin next to a silver Ethereum coin

China continued its crackdown on crypto, leading to massive amounts of bitcoin and Ethereum being moved from exchanges. Immense pressure from Chinese central banks following the latest iteration of the China crypto ban has seen exchanges suspending operations in the region. In light of this, large amounts of crypto are being moved from exchange wallets to presumably safer wallets.

The transactions are thought to be going to cold wallet storage. Crypto crackdowns in the country caused a surge in USDT sell-offs against the Yuan as users tried to get rid of their crypto holdings before the ban takes full effect. The latest release by the Peoples Bank of China targets over-the-counter activities like those carried out on Huobi and OKEx exchanges and declared that changing fiat to crypto or crypto-to-crypto was now regarded as an illegal activity in the country.

Related Reading | Billionaire Mike Novogratz Says He’s “Not Nervous” About Crypto Sell-Off

$3.1 Billion in Bitcoin and $2.4 Billion In Ethereum Moved

After Huobi announced it was going to retire Mainland China’s active user accounts, the exchange had begun to move funds. The exchange had moved a total of $3.1 billion worth of BTC on Sunday. The activity was flagged by btcparser which had flagged the initial transfer of 72,999 bitcoins being moved from Huobi’s wallets. Subsequent transfers were then made in 2,000 BTC increments. 1,800 bitcoins then went to a single address and the rest got split into small wallets. This strikes as odd but could possibly be the exchange moving the funds in the way they deem the safest.

Huobi exchange moves 800K ETH | Source: Whale Alert

Related Reading | JPMorgan Analysts Say That Big Money Are Dumping Bitcoin For Ethereum

The Ethereum transfers took a different route. Wallets that had been flagged as belonging to the Huobi Exchange then began to move Ethereum into unknown wallets. By the time the transfers were done, 800K ETH had been transferred. A total of eight Ethereum transactions were made, each carrying 100K in ETH worth over $285 million on each transaction. Adding up to a total of $2.4 billion in ETH moved to unknown wallets.

Exchanges Retiring Chinese User Accounts

Exchanges, following the release of the latest ban, responded by explaining that they would begin retiring user accounts. The process was meant to happen gradually in order to ensure that users’ funds remained safe. Mainland China user accounts are scheduled to be retired on December 31, 2021, the last day of the year. This gives investors roughly three months to put their crypto affairs in order. But despite this long time frame, the rush to get rid of crypto holdings saw price quotes for USDT drop to as low as 6.12 Yuan per USDT.

This is not the first time that China has banned crypto actives in the country. And every time one of these bans was announced, it has had a negative effect on the market and the latest ban has been no different. The announcement saw a crash in prices across the crypto market. Although the market has since recovered. While the effects of the crash linger on.

Ethereum price chart from

ETH price down following crackdown | Source: ETHUSD on
Featured image from, chart from
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Trace Network Offers an Extremely Rare Brew as World’s First Craft Beer NFT



trace network

Trace Network Labs, which recently announced its foray into the world of NFT and Metaverse, is bringing its first among many Lifestyle items that can be carried to ANY metaverse. Trace has onboarded Vietnam’s award-winning 7 Bridges Brewing Company to launch limited-edition craft beer NFTs that will be metaverse-ready.

Considered one of Asia’s most innovative craft breweries, 7 Bridges Brewing Company has created the iNFTy range of beer which will be limited to only 110 bottles. Out of these, 99 bottles of extremely rare Grand Cru beer will be tokenized and made available to those who own the NFTs. The remaining 11 bottles will be held as brewer’s reserve.

The NFT Beer

As a part of the collaboration, Trace Network will introduce 99 unique 3D object artworks created by 7 Bridges as NFTs, each representing a bottle of extremely rare beer brewed from a special recipe that will never be used again.

Each NFT artwork representing a bottle of iNFTy Craft Beer is unique and numbered. The artworks capture the deeper meaning of its numeral, drawing inspiration from history, science, pop culture and mysticism. The corresponding bottle, represented by the NFT will feature the unique artwork label and be cellared in ideal conditions until physically claimed by the owner.

Owning the NFT

To own the treasured bottles of 7 Bridges iNFTy craft beer, users have to participate in the upcoming global auction on Trace Network’s Bling platform – a luxury and lifestyle NFT marketplace. The auction winners will not only become eligible to gain possession of the extremely rare beer and enjoy it but also carry them into any metaverse. They can also trade or transfer these NFTs like any other ERC token.

Enabling an Experience

Trace Network Lab’s partnership with 7 Bridges Brewing Company is the latest in a string of collaborations with premium lifestyle brands the platform has forged in recent days.

Trace aims to enable the metaverse “residents” gain limitless experience in different virtual worlds by helping them use “wearable” and “consumable” luxury & lifestyle NFTs that are created by brands as a digitized version of their real-world products offerings.

By enabling brands to create NFTs and cater to the metaverse users’ aspiration to own their products not only in the physical but also the virtual world, Trace Network has become the de-facto gateway between these two worlds for luxury and lifestyle products.


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Crypto Roundup: September 27, 2021



Crypto Roundup: September 27, 2021

Another week of wild volatility has hit the cryptoasset market, as China’s latest ban collides with accelerating adoption to catalyze big market swings.

First, fears of the financial collapse of Chinese developer Evergrande sent crypto sliding last Monday, before the market turned around as Twitter added Bitcoin tipping. El Salvador’s President Bukele then bought the dip, only for the gains to be erased on Friday as Chinese authorities announced yet another crypto crackdown.

When the dust settled, Bitcoin and Ethereum were both sitting slightly higher with 2% and 5% weekly gains respectively. DeFi tokens however, enjoyed even bigger wins in anticipation of more Chinese users being forced into the DeFi wilderness. Exchange protocol Uniswap has risen 23%, while up-and-coming platforms Tezos and Cardano are celebrating 25% and 8% gains.

This Week’s Highlights

  • China ban fails to sink Bitcoin
  • Twitter accelerates crypto adoption
  • eToro launches DeFi Portfolio

China ban fails to sink Bitcoin

Digital asset traders were left with déjà vu on Friday as Chinese authorities announced yet another crypto crackdown.

The Chinese central bank said in an announcement that all crypto-related activities are now illegal, including exchange services between cryptoassets, and between fiat currencies and cryptoassets.

Bitcoin tumbled on the news, but soon recovered on a wave of optimism about the opportunity for adoption elsewhere. Weighing in on Twitter, U.S. Senator Pat Toomey said that “China’s authoritarian crackdown on crypto” represents “a big opportunity for the U.S.” to take part in what is “arguably the most exciting innovation in finance in decades.”

Twitter accelerates crypto adoption

Twitter has taken crypto another step closer to full-blown mainstream adoption by enabling Bitcoin tipping, and revealed plans to roll out an NFT authentication feature.

Tipping, which is currently only available on iOS, uses Bitcoin Lightning Network to allow anyone to receive direct donations from profile visitors. NFT authentication on the other hand, is expected to allow users to connect their wallets to showcase their NFT collections.

Alongside Reddit’s Moon Tokens on Ethereum, and Facebook’s ongoing Diem project, crypto now looks set to be a permanent feature of social media. This could lead more otherwise uninterested social media denizens to develop cravings for cryptoassets over the next few years.

eToro launches DeFiPortfolio

The DeFi revolution has begun, and the dizzying pace of innovation is making it difficult for even the most informed investors to keep up.

eToro is now offering an easy way to stay ahead of the growing decentralized finance movement. The DeFiPortfolio bundles together the top decentralized finance projects, giving you exposure to every corner of the ecosystem — from Uniswap to Yearn.Finance and more — without having to spend hours on research.

Learn more about eToro’s newly launched DeFiPortfolio.

Week ahead

As September draws to a close, analysts including Galaxy Digital’s Mike Novogratz are anticipating a bullish fourth quarter.

In October, the biggest upcoming price catalyst could be the approval of a Bitcoin ETF. Bloomberg analyst Eric Balchunas gives this a 75% chance.

On the bearish side, Washington now has crypto firmly in its regulatory crosshairs. Jake Chervinsky, crypto lawyer at Compound, expects enforcement activity from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in the next two weeks as the agencies seek to boost performance before the end of the fiscal year.


Image by Gerd Altmann from Pixabay

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Crypto Market Analysis: September 27, 2021



Crypto Market Analysis: September 27, 2021

Crypto markets were rocked on Friday as it emerged that China was implementing a full ban on cryptoasset trading inside the country. Despite it having announced the ban previously, markets reacted badly with big falls in BTC and other altcoins.

BTC entered last week on a downward trend and had already hit a low of $40,500 by Wednesday morning, but it was recovering steadily until the news from China knocked it down more than 8% on Friday. The price then stabilised before a jump on Sunday and returned to over £44,100 this morning.

ETH likewise hit a weekly low on Wednesday, touching £2,700 before a climb back up to over $3,100. Following its own fall of over 9% on Friday, ETH then stabilised along with BTC over the weekend and was trading again at over $3,100 this morning after strong gains on Sunday.

Twitter launches crypto features

Social media platform Twitter has launched a series of crypto-related features on its platform.

Users will now be able to tip popular tweeters in bitcoin through Strike, a third-party payments app built on the Bitcoin Lightning Network. iOS-based Twitter users will now be able to access the Tips feature while the platform says it will roll out Android functionality soon.

The company is also looking to make non-fungible tokens (NFTs) more prominent on the platform, giving creators more tools and moderation functions. Twitter says it is exploring NFT authentication which would let users connect their crypto wallets directly to their social media accounts in order to display their owned artwork on their profiles.

Sorare secures bumper $680 million SoftBank funding

NFT marketplace Sorare announced on Wednesday that it has secured a mega $680 million funding round led by high-profile Japanese tech investment house SoftBank.

Sorare is a marketplace for non-fungible tokens (NFTs). The platform is now valued around $4.3 billion after the Series B funding round. SoftBank led a previous round of investment in July, injecting $532 million. The firm plans to use the fresh cash injection to expand its sports NFT offering.

The firm will expand its football portfolio of NFTs by seeking partnerships with football leagues and associations. It has already secured deals with French heavyweight team Paris Saint-Germain, English Premier League champions Liverpool and the Spanish-based La Liga league.

Sorare is also looking at diversifying its NFT offering, exploring sports beyond football. Issues have arisen among other sports, however, as major leagues such as the NFL in the US specifically proscribe players and clubs from creating or selling NFTs.

Evergrande causes rollercoaster week for crypto markets

The news has been heavily focused on events in China in the past week, with crypto not immune from the permutations.

Early in the week, news began to emerge of the Evergrande crisis which sent contagion spiralling through all markets. Cryptoassets felt the effects as the broad-base selloff took hold on Monday.

Evergrande has massive debt exposure – over $300 billion – and has failed to make payments on time to its creditors. The implications for wider crypto markets are not direct, but with debt fears looming, cryptoassets such as Tether could be affected.

Stablecoins like Tether are pegged to fiat currencies such as the US Dollar. But to maintain the peg they require holdings to match the value of the cryptoasset. Many can’t hold large amounts of cash and instead use commercial paper – a form of short-term debt – to account for the value.

The issue here is that, with Evergrande creating 2008-style contagion risk for debt markets, stablecoins could run into trouble were the commercial paper they hold to lose value. Unfortunately, as such a crisis is unprecedented, it remains to be seen what will happen next.

This is a marketing communication and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past performance of a financial instrument, index or a packaged investment product are not, and should not be taken as a reliable indicator of future results.

All contents within this report are for informational purposes only and does not constitute financial advice. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared utilizing publicly available information.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.


Image by Roy Buri from Pixabay
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Morgan Stanley Bags Over 58,000 GBTC Shares As Bitcoin Price Shakes



Morgan Stanley Bags Over 58,000 GBTC Shares As Bitcoin Price Shakes

As Bitcoin and other cryptos gain more credence, many top shots in diverse industries embrace the crypto community.

Many companies, including Tesla, had accepted BTC payments once, and even a country like El Salvador is now using it as a legal tender. So, it’s not surprising that Morgan Stanly, an extensive American Investment bank, will buy shares of a Bitcoin Trust.

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course

In a recent development, the bank acquired 58,000 shares of Grayscale Bitcoin Trust. It had previously owned some shares of the Trust, including the 28,289 shares bought earlier in 2021. This latest addition has increased the number of shares that the bank holds across many portfolios.

The investment bank disclosed this latest purchase through an SEC filing showing that it bought the shares on July 31, 2021. At the time of writing, the price of Grayscale BTC Trust stands at $32.55. The bank “Insight Fund” holds 928,051 shares which depicts a $31.7 million worth of shares for one of Morgan Stanley’s portfolios.

The Grayscale Bitcoin Trust is currently trading in a downward momentum | Source: GBTCUSD on

The bank’s announcement in April 2021 has added Bitcoin assets to at least 12 of its funds through the Grayscale BTC Trust plus Cash-settled Futures. The accumulated figure shows 6.5 million GBTC shares.

Companies Holding Grayscale’s Bitcoin Trust

Apart from Morgan Stanley, another investment bank pushing into BTC exposure is JP Morgan. It is the second-largest GBTC shareholder, while Cathie Woods Ark Investment remains in the first position to date.

Related Reading | Bitfinex To Roll Out Security Token Offerings (STOs) Platform In Kazakhstan

The firm disclosed in July that it had added over 450,000 GBTC shares in two purchases. Many others with GBTC shares include Goldman Sachs, JP Morgan, and BlackRock.

Featured Image from Pixabay, chart from

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