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Markets tumble as doubts grow over December rate cut

Risk assets have been affected following doubts regarding a potential interest rate cut by the Federal Reserve in December. Bitcoin (BTC) witnessed significant losses, dropping below $95,000, fueled in part by the second-worst day for bitcoin ETF net flows, which saw nearly $870 million in outflows. This decline extends a trend of negative flows, marking three consecutive weeks of outflows. Meanwhile, traditional US equities also faced selling pressure, with the Nasdaq and S&P 500 falling by 1.74% and 1.37%, respectively. The Federal Reserve is hesitant about a December rate cut amidst ongoing government shutdown issues and a lack of updated economic data. Consequently, market expectations have shifted, with the probability of a 25 basis point cut now estimated at only 51%. Grayscale's recent IPO filing highlights financial struggles, reporting a 20% revenue decline year-over-year.

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Harvard Triples Its Bitcoin Position as Emory Expands BTC ETF Holdings

Harvard University and Emory University both increased their Bitcoin exposure in the third quarter through ETF holdings, according to recent filings. Harvard Management Company reported holding 6.8 million shares of BlackRock's iShares Bitcoin Trust, valued at approximately $443 million, a significant rise from 1.9 million shares

Harvard Triples Its Bitcoin Position as Emory Expands BTC ETF Holdings

Harvard University has significantly increased its Bitcoin exposure, holding 6.8 million shares of BlackRock's iShares Bitcoin Trust valued at approximately $443 million as of September 30. This marked a sharp rise from 1.9 million shares reported earlier. Despite the allocation being relatively small compared to Harvard&

Harvard Triples Its Bitcoin Position as Emory Expands BTC ETF Holdings

Harvard University has significantly increased its Bitcoin exposure by tripling its position in BlackRock's market-leading crypto ETF. As of September 30, the Harvard Management Company held 6.8 million shares of iShares Bitcoin Trust, valued at approximately $443 million, up from 1.9 million shares reported in June.