Capula Management Reveals $500M Spot Bitcoin ETF Holdings Amid Market Downturn

Capula Management, the fourth largest investment manager in Europe, holds nearly $500 million in spot Bitcoin ETFs.

Capula Management, Europe's fourth-largest investment manager, has disclosed a massive investment in spot Bitcoin exchange-traded funds (ETFs).

According to filings with the U.S. Securities and Exchange Commission, the hedge fund manager acquired a total of $253 million in BlackRock’s iShares Bitcoin Trust (IBIT) and an additional $211 million in Fidelity’s Wise Origin Bitcoin (FBTC) ETF.

The disclosure comes as the broader market faces significant downward price pressure, with apex crypto asset Bitcoin dipping below the crucial $50,000 price point on Monday.

However, institutional interest in Bitcoin ETFs appears to be increasing, with several pension funds also joining the bandwagon to purchase the digital asset investment product.

In one of the most notable developments, Morgan Stanley became the first major Wall Street bank to allow its financial advisors to present spot Bitcoin ETFs to clients.

Meanwhile, data compiled by Arkham also revealed that major BTC holders — including MicroStrategy, BlackRock, Fidelity and Grayscale — have not sold their BTC assets despite the market losses.

Bitcoin price today

On Monday, Bitcoin dipped below the $50K level to test prices last seen in February. However, BTC recovered to trade above $53K on Monday, with the crypto market hopeful of a potential recovery amid the Fed interest rate cuts.

Earlier in the day, Wharton professor Jeremy Siegel called for the Fed to slash its fund rate by 75 basis points and another similar cut at its next meeting in September.

"I'm calling for a 75 basis point emergency cut in the Fed funds rate, with another 75 basis point cut indicated for next month at the September meeting – and that's minimum," says Wharton's Jeremy Siegel: pic.twitter.com/s4CgWx962Q

— Squawk Box (@SquawkCNBC) August 5, 2024

According to Polymarket bets, bettors are giving a 29% chance that the Fed will make an emergency interest rate cut.

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