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Crypto

Ripple expands services to Brevan Howard hedge fund

Ripple has expanded its cooperation with global alternative investment manager Brevan Howard, broadening services for institutional investors, blockchain media outlet U.Today reported on Oct. 6 local time. Ripple Prime will provide multi-asset prime brokerage, clearing and financial services to funds managed by Brevan Howard. Ripple said the structure focuses on improving collateral management and capital efficiency. The announcement did not include Brevan Howard buying XRP or using Ripple’s RLUSD stablecoin.

Crypto

Institutional bitcoin spot ETF holdings rise despite price drop

Bitcoin fell 14.2 percent in the second quarter, but institutional holdings of bitcoin spot exchange-traded funds rose 7.5 percent, based on U.S. SEC 13F filings. The number of institutions reporting bitcoin positions fell about 6.8 percent. Banks and some asset managers increased exposure, while some hedge funds cut ETF shares. Market makers showed sharp swings tied to creation, redemption and hedging. Long-term investors largely maintained holdings.

Crypto

Blockworks acquires Messari, expands crypto data integration

Blockworks has acquired crypto research and analytics firm Messari for more than $10 million, Cointelegraph reported on June 12. The deal is expected to expand Blockworks\' cryptocurrency data and research business. Messari raised $35 million in a 2022 Series B round and was valued at about $300 million at the time. The Wall Street Journal said the lower price reflects sluggish performance at Messari and broader weakness across the crypto industry.