Amid the vast and tumultuous sea of global finance, where every ripple can turn into a tidal wave, Bitcoin once again finds itself on the precipice of reclaiming the lofty summit of $120,000. This ascent, dear reader, is not merely a tale of numbers and charts but a narrative woven with threads of tightening supply and a series of intriguing events that have captured the imagination of the financial world.
Recently, the venerable halls of Harvard University have opened their coffers to reveal a sum of $116.6 million allocated to BlackRock’s IBIT Bitcoin ETF. A sum so grand, one might almost hear the echoes of Ivan the Terrible counting his gold. Meanwhile, the small yet ambitious nation of El Salvador has embarked on a bold venture, welcoming Bitcoin-focused investment banks, while the regulatory bureaucracy in Japan has put a temporary halt to the country’s first crypto ETF.
El Salvador Opens Door To Bitcoin Investment Banks
El Salvador, a land known for its volcanic landscapes and warm hospitality, has now added another feather to its cap by passing a landmark Investment Banking Law. This law, a testament to the country’s forward-thinking spirit, allows regulated investment banks-distinct from commercial lenders-to hold Bitcoin and other digital assets on their balance sheets. These institutions, catering exclusively to sophisticated investors, are required to possess a Digital Asset Service Provider license and a minimum of $50 million in starting capital. It is as if the country has laid out a red carpet for the crypto elite, inviting them to partake in a grand experiment that could redefine the financial landscape.
The law, approved on a fateful Thursday, paves the way for banks to operate entirely as Bitcoin banks. Government officials, with a mix of optimism and bravado, assert that this framework is designed to attract foreign capital and solidify El Salvador’s position as a crypto finance hub. Critics, however, remain skeptical, warning that the benefits may predominantly accrue to wealthy institutions rather than the average Salvadoran citizen. It is a classic tale of the haves and the have-nots, played out in the digital age.
While El Salvador strides confidently into the future, Japan’s entry into the Bitcoin ETF market remains in limbo. Despite multiple reports suggesting that SBI Holdings had filed for spot crypto ETFs, the company has clarified that it has not yet submitted any such applications. Nevertheless, the company’s Q2 2025 earnings report hints at plans to launch crypto-asset-linked investment trusts and ETFs, pending regulatory approval. It seems that even in the land of the rising sun, the path to crypto enlightenment is fraught with bureaucratic hurdles.
Harvard University Commits Over $116 Million To Bitcoin ETF
The world of institutional investing received a jolt of excitement when Harvard University, a bastion of academic excellence and financial prudence, announced its decision to invest $116.6 million into BlackRock’s IBIT spot Bitcoin ETF. This revelation, detailed in a filing with the US Securities and Exchange Commission by the Harvard Management Company, has sent ripples through the financial community.
With this substantial investment, Bitcoin has secured a prominent place within Harvard’s equity portfolio, marking a significant shift in the university’s investment strategy. Following its decision last quarter to reduce exposure to several major Big Tech stocks, Harvard’s allocation to Bitcoin underscores a growing confidence in the cryptocurrency’s potential. The endowment’s purchase of 1.9 million shares of iShares Bitcoin Trust, valued at $116.6 million, places Bitcoin as the fifth-largest holding in Harvard’s equity portfolio, just behind tech giants like Microsoft, Amazon, Booking Holdings, and Meta.
Harvard’s move aligns with broader investment trends in the United States, where US spot Bitcoin ETFs have attracted over $54 billion in inflows since their launch in early 2024. As liquidity on major exchanges tightens, this influx of institutional capital has bolstered bullish sentiment surrounding Bitcoin. At the time of writing, Bitcoin is trading at $118,320, a 4% increase over the past seven days, a testament to the enduring appeal of this digital asset.
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2025-08-10 18:09