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• The flagship fund offered by noted hedge fund manager and bitcoin bull Bill Miller, the Miller Opportunity Trust, disclosed in an Aug. 27 SEC filing a $44.7 million stake in the Grayscale Bitcoin Investment Trust (GBTC).
   
• According to SEC filings from Morgan Stanley, the bank bought upwards of 6.5 million shares of Grayscale Bitcoin Trust (GBTC) across more than a dozen funds. With each share trading at $37.82, that's about $240 million in GBTC... and would make the investment bank the second-largest known holder of GBTC after Cathie Wood's ARK Investment Management, which owns over 9 million shares.

 SPONSORED 

Digital currency in your 401(k)? Now you can and why you should

How much of your digital currency profits will go to capital gains taxes? Probably too much, but now you have a choice. You can eliminate capital gains taxes on digital currency profits with the Alt401(k) from ForUsAll and Coinbase.

By using after-tax contributions for your digital currency investments, you can buy, hold, and trade those assets in a retirement plan, making future gains tax-free. That can mean a big boost for your retirement.

The Alt401(k) adds potentially higher growth than traditional retirement investments, like stocks and bonds, without significantly adding risk. That’s because, historically, digital currencies haven’t gone up and down at the same time as stocks and bonds. And because digital assets in the Alt401(k) are held in offline cold storage, they’re safe from online hacking.

Read the eBook to learn more.
 

 DEEP DIVE 

DeFi Is Back

• Institutions are beginning to join the party
  Square, JPM, and BlackRock are the latest giants to show signs of interest. According to the Chainalysis Global DeFi Adoption Index (covered last week), the share of DeFi transaction volume conducted by large institutional traders rose from less than 10% in mid-2020 to over 60% in the Q2 of this year.
   
• Celo, Aave, Curve, Sushi launch $100 million DeFi initiative
  Popular DeFi apps have banded together with the goal of bringing DeFi to “the 6 billon smartphone users around the world.” Using a crypto platform called Celo, the group aims to increase crypto adoption in developing economies.
   
• Aave will launch a dedicated lending platform for institutions “within weeks”
  Aave's goal is to provide a more comfortable risk appetite for institutions to participate in decentralized finance. With $15.18 billion TVL, just about everyone has their eyes on Aave, the largest DeFi application... including Bitwise, the world’s largest crypto-index-fund manager, who recently announced the creation of the Bitwise Aave Fund.
   
• MetaMask has seen its user count soar 1,800% this year
  The popular wallet option for DeFi now boasts more than 10 million users, up from around 600,000 last summer, and 5 million in April.

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 REGULATORY FRONT 

Cuba To Recognize And Regulate Cryptocurrencies

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