Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Titan Crypto is attempting to bring professionally managed crypto portfolios to retail investors. The launch of the new offering coincides with a dramatic price rally for crypto assets.
United States investment adviser Titan has officially launched its new cryptocurrency offering targeting U.S. investors, giving market participants additional avenues for accessing digital assets like Bitcoin (BTC) and Ether (ETH).
The new product, dubbed Titan Crypto, seeks to invest in a concentrated basket of leading cryptocurrencies that can outperform over the long term, the company announced Wednesday. The portfolio will be actively managed by Titanâs dedicated crypto team and will be available to U.S. residents who reside outside of New York state.
In July, Titan concluded a $58 million Series B financing round led by Andreessen Horowitz, bringing its total funding to $75 million. Although the funds raised weren't solely tied to Titanâs crypto businesses, a spokesperson at the firm told Cointelegraph that the funds would help bootstrap Titanâs crypto offering âwell beyond the flagship coins and behaviors,â referring to Bitcoin and Ether. At the time, the spokesperson identified decentralized finance (DeFi) coins as one avenue for future growth.
Andreessen Horowitz has been behind some of the biggest funding campaigns in crypto. As Cointelegraph reported, the California-based venture firm recently launched a $2.2 billion fund dedicated to blockchain and crypto plays.
Related: 5G blockchain network raises $111M in Andreessen-led token sale
Some of the biggest funding rounds have targeted cryptocurrency exchanges and other service providers that are providing traditional onramps to digital currency investing. On the institutional front, thereâs growing evidence that larger investors have been increasing their exposure to digital assets. On-chain data provided by Glassnode showed that large BTC transactions, which are often indicative of institutional buyers, have grown significantly.
The dominance of large #Bitcoin transactions (> $1M) has risen from 30% in 2020, to over 65% in 2021.
This reflects a growing share of institutional interest, and capital being transferring across the #Bitcoin network.
Read more in The Week On-chainhttps://t.co/KJyj75Iekg pic.twitter.com/B4nnbfBBZRâ glassnode (@glassnode) August 10, 2021
Beyond the on-chain data, institutional players like VanEck continue to push for a Bitcoin exchange-traded fund. For many crypto observers, itâs only a matter of time before the United States Securities and Exchange Commission joins its counterparts in Canada in approving its first Bitcoin ETF.
Related: JPMorgan now offers clients access to six crypto funds ⊠but only if they ask
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.