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Chief Investment Officers Don’t Really Like Bitcoin, Goldman Sachs Survey Reveals

Bitcoin (BTC) is the least favored investment among chief investment officers (CIOs), according to a recent survey by Goldman Sachs. Goldman Sachs Survey Reveals Negative Sentiment Two roundtable discussions for chief investment officers of hedge funds were recently hosted by investment bank Goldman Sachs. According to the bank, bitcoin is their least preferred investment. The […]

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Bitcoin (BTC) is the least favored investment among chief investment officers (CIOs), according to a recent survey by Goldman Sachs.

Goldman Sachs Survey Reveals Negative Sentiment

Two roundtable discussions for chief investment officers of hedge funds were recently hosted by investment bank Goldman Sachs. According to the bank, bitcoin is their least preferred investment. The most crowded trade, according to the latest Bank of America Fund Manager Survey, was “long bitcoin.”

After completing a study to find out what investments chief investment officers (CIOs) prefer in the present market, Goldman Sachs published a note on Saturday. Timothy Moe, a strategist at Goldman Sachs, wrote:

“We held two CIO roundtable sessions earlier this week, which were attended by 25 CIOs from various long-only and hedge funds. Their most favorite is growth style but least favorite on bitcoin.”

Aside from growth style, CIOs preferred value style, followed by commodities. Bitcoin was the least popular investment, followed by fresh IPOs and rate-sensitive assets.

Goldman Sachs Survey: Chief Investment Officers Say Bitcoin Is Their Least Favorite Investment
The most and least favorite investments for chief investment officers. Source: Goldman Sachs, Bloomberg

Unlike Goldman Sachs, Bank of America (BofA) discovered that bitcoin was a popular investment among asset managers polled. According to the bank’s May Fund Manager Survey, which included 216 fund managers with $625 billion in total assets under management (AUM), “long bitcoin” was the most crowded trade on the planet. Long bitcoin was the second-most popular trade in the prior month.

Although the survey’s size and timeliness may have played a role in the disparities in results. There were 216 panelists in the BoA poll, with $625 billion in assets under control. Meanwhile, this poll was conducted between May 7 and May 13th. Bitcoin was worth $57,699 on May 7th, but it was only $36,316 on June 7th.

Unlike the CIOs polled, Goldman Sachs analysts are optimistic about bitcoin’s future. They previously stated that institutional investors are drawn to Bitcoin due to a fear of missing out (FOMO). Bitcoin was also recently designated as an investable asset and a new asset class by the bank.

Related article | CIO Claims The Government Will “Stop The Music” On Bitcoin

Bitcoin Expected To Bounce Back

Despite Goldman Sachs survey, the announcement that El Salvador would recognize Bitcoin as a legal tender, and a similar announcement from Paraguay, additional recoveries are predicted this week. As a result of the approval as a legal cash, El Salvador’s President, Nayib Bukele, predicted that the cryptocurrency will garner 10 million additional users. Carlitos Relaja, Paraguay’s National Deputy, hinted at a probable positive news on Bitcoin through Twitter Friday evening.

He said:

“As I was saying a long time ago, our country needs to advance hand in hand with the new generation. The moment has come, our moment. This week we start with an important project to innovate Paraguay in front of the world! The real one to the moon #btc &#paypal,”

BTC/USD has slumped further has new week begins. Source: TradingView

Related article | Goldman Sachs Believes Ethereum Beats Bitcoin, New Leaked Report Reveals

Featured image from Unsplash, Charts from TradingView.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinist.com/chief-investment-officers-dont-really-like-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=chief-investment-officers-dont-really-like-bitcoin

Blockchain

VanEck Bitcoin ETF: SEC delays decision and additionally seeks public comment

The US Securities and Exchange Commission has a history of delaying the approval of Bitcoin ETFs. The regulatory hurdles and the indefinite rejections in the past have dented the hopes of a quick SEC

The post VanEck Bitcoin ETF: SEC delays decision and additionally seeks public comment appeared first on AMBCrypto.

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The US Securities and Exchange Commission has a history of delaying the approval of Bitcoin ETFs. The regulatory hurdles and the indefinite rejections in the past have dented the hopes of a quick SEC approval. Crypto-enthusiasts have already been frustrated by the SEC’s reluctance to sign off on an ETF.

In what is the most recent development, the agency further delayed passing its judgment on the VanEck Bitcoin Trust. 

Usually, the SEC delivers a decision on a particular application within 45-day windows. However, to date, the agency has used the upper cap, 240 days, to review most of the Bitcoin ETF applications and has ended up rejecting them. It should be noted that this is the second time that the regulatory body has extended its review period by 45 days for VanEck’s ETF. Previously, in April, the SEC stated that it needed “sufficient time” to evaluate the aforementioned proposal.

Additionally, the SEC has asked for public comment on VanEck’s application. Interested parties need to answer questions with relevant data to substantiate their views on how vulnerable the ETF would be to “market manipulation” and whether or not the regulatory ecosystem has “changed” since 2016. Other questions require the commentators to shed light on their views about the “transparency” of Bitcoin and their standpoint on the “size and regulation” of CME’s Bitcoin futures contracts. 

The SEC has time and again highlighted its concerns over fraud and manipulation in the BTC markets. Additionally, since the agency doesn’t have any control over exchanges, the regulators in the US feel that their “investor protection” obligation gets obstructed.  

However, the community presumed that the regulatory body would be more receptive to the crypto space under the novel leadership of Gary Gensler, but this decision has not sent out the message the community was expecting. However, Galaxy Digital’s exec, Mike Novogratz had recently stated that, in his opinion, ETFs would go live either by the fourth quarter this year or the first quarter next year. Now, since the brakes have already been applied, the approval is likely to delay itself even further. 


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/vaneck-bitcoin-etf-sec-delays-decision-and-additionally-seeks-public-comment

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Crypto fintech Centbee selected for regulatory sandbox

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YouTube has banned ads about gambling, alcohol, politics, and prescription drugs from its masthead, the website’s most prominent advertisement slot. Axios reported the ban…

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ventureburn.com/2021/06/crypto-fintech-centbee-selected-for-regulatory-sandbox/

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Crypto fintech Centbee selected for regulatory sandbox

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YouTube has banned ads about gambling, alcohol, politics, and prescription drugs from its masthead, the website’s most prominent advertisement slot. Axios reported the ban…

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ventureburn.com/2021/06/crypto-fintech-centbee-selected-for-regulatory-sandbox/

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Finnovex Southern Africa 2021 to be Held on July 27, 28

Exibex organises the 2nd Annual Edition of Finnovex Southern Africa and 7th Edition from the Finnovex Global Series to examine how technology is Changing the Delivery of Banking and Financial Services. It is imperative to invest in a digital future and develop new technological solutions in data, advanced analytics, and digital and new delivery platforms. … Continued

The post Finnovex Southern Africa 2021 to be Held on July 27, 28 appeared first on BeInCrypto.

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Exibex organises the 2nd Annual Edition of Finnovex Southern Africa and 7th Edition from the Finnovex Global Series to examine how technology is Changing the Delivery of Banking and Financial Services.

Sponsored
Sponsored

It is imperative to invest in a digital future and develop new technological solutions in data, advanced analytics, and digital and new delivery platforms. It is also important that fintech and banks collaborate to support businesses and aid people to remain safe, healthy, productive, and connected in the face of COVID-19 and beyond.

The Summit will be held on July 27-282021 and it will hostCXOs, Senior Vice Presidents, Vice Presidents, Directors, and Heads of departments from the Banking and FI industry involved in:

Sponsored
Sponsored

Mobile Banking; Digital Transformation; Digital Banking; Blockchain; Cyber & Cloud Security; Islamic Banking; Fintech; Strategy & Operations; Retail Banking; R&D Innovation; Risk & compliance Management; Product Development; Cryptocurrency; Customer Experience; IT; Big Data Analytics; Open Banking (API) and Innovation.

The event, being organised by Exibexwill be held virtually. Finnovex Southern Africa is a part of the Finnovex Global Series.

This year’s edition is themed “Adapting Reinvention to Rapidly Changed World”.

Anticipate:

➤ 25+ Trail Blazer Speakers

➤ 250+ Delegates

➤ 4+ Panel Discussions

➤ 8+ Networking Hours

➤ 10+ Keynote Sessions

Here are the attendee benefits:

Meet new, creative and inspired people, and form strategies you need to grow. Network, Share ideas and learn new strategies with over 250 of the sharpest minds in banking and financial services.

✓ Learn how to evaluate, deploy, use, and customize the financial technologies to improve business processes

✓ Hear first-hand from customers on the challenges they face across the entire value chain of financial processes

✓ Take away lessons learned, valuable case studies and key insights from peers to apply within your operations

✓ Meet with Fintech solution management, development, support and consulting experts

✓ Fully evaluate and understand how the comprehensive suite of applications can optimize your business process

✓ Visit the showcase centres and demos to better understand the latest solutions in the market that can help your business

Finnovex is dedicated to examining the Future of Financial Services on how disruptive innovations are reshaping the way they are structured, provisioned and consumed.

The Finnovex Global series, which is organized byExibex, examines the Future of Financial Services and how disruptive innovations are reshaping the way they are structured, provisioned, and consumed.

The Finnovex series of Summits highlights thought leadership on cutting-edge issues with long-term implications to the industry and lays the foundation for multi-stakeholder dialogues that explore the potential of these innovations to transform the financial ecosystem as well as the risks and opportunities that could emerge from shifts in the way financial services are designed, delivered and used in the future.

For more information, visit –https://finnovex.com/

If you would like to sponsor or be our event partner, please send us an email info@exibex.com

About Exibex:

Exibex is a market leader in knowledge-based conferences, managed events and business consulting. The team provides innovative and engaging networking platforms to create and engage C-level communities for global corporations. Our platforms enable acceleration of both individual, and organisational performance, to benefit global business leaders. We comprehend the challenges organisations face in this volatile and uncertain market, so we look to help your core revenue generation teams by building a complete 360-degree package tailored to your business strategies, goals and needs.

For more information:

TolulopeFolaranmi| Regional Marketing Manager –Exibex
E:Tolulope@exibex.com

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/finnovex-southern-africa-2021-to-be-held-on-july-27-28/

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