ChainCatcher news, according to Bloomberg, two cryptocurrency hedge fund management companies, JellyC and Trovio Asset Management, announced a merger aimed at attracting institutional investor funds, including pension funds. Australia-based JellyC will become the main shareholder of the merged entity.

ChainCatcher news, according to Bloomberg, after the deadline for submitting the second quarter 13F reports on Wednesday, 701 new funds reported holding Bitcoin spot ETFs, bringing the total number of holders close to 1,950.Hedge funds, pension funds, and banks continue to invest heavily in Bitcoin spot ETFs as more traditional investors begin to embrace this asset class. Capula Investment Management, Schonfeld Strategy Advisors, and Steven Cohen's Point72 Asset Management also reported holdings in the ETF. Other buyers include the Wisconsin Investment Board and market-making firms from places such as Hong Kong, the Cayman Islands, Canada, and Switzerland.

ChainCatcher news, Bloomberg analyst Eric Balchunas posted on social media that the national pension purchased BlackRock's IBIT (Bitcoin spot ETF) in the first quarter. Typically, these whale institutions do not buy in for about a year (when the ETF gains more liquidity), but as we have seen, this is different from the past and is a good sign. We look forward to more institutions disclosing, as institutions often act collectively.ChainCatcher previously reported that according to 13F filings, the State of Wisconsin Investment Board holds $99 million in iShares Bitcoin ETF.

ChainCatcher news, according to the Financial Times citing informed sources, some U.S. pension funds are providing financing support to the cryptocurrency broker Hidden Road. If the hedge funds financing the prime broker suffer significant losses, the prime broker or its investors may have to bear the costs.Andrew Urquhart, a professor of finance and financial technology at Henley Business School, stated: "This is a very risky investment, and if my pension fund indicated that we would enter the cryptocurrency space, I would be very concerned."Previous report, the digital asset and forex brokerage Hidden Road Partners completed a $50 million financing round last August, with participation from Citadel Securities, FTX Ventures, Coinbase Ventures, and others.Hidden Road Partners was founded by Marc Asch in 2018 and previously collaborated with Steven Cohen's hedge fund SAC Capital and Point72 Asset Management. The company assumes counterparty risk on behalf of clients and cryptocurrency exchanges or market makers, allowing them to deposit dollars as collateral in a tripartite setup with custodians and receive profits and losses in dollars.

ChainCatcher news, the Canadian national government stated in the new 2023 budget plan: "To help protect the retirement lives of Canadians, the government will require federally regulated pension funds to disclose their cryptocurrency asset risk exposure to the Office of the Superintendent of Financial Institutions (OSFI)." Additionally, OSFI will consult with federally regulated financial institutions on guidelines for publicly disclosing their cryptocurrency asset exposure to help protect "the savings of Canadians and the safety of our financial sector."This move comes after several high-profile bankruptcies, such as those of the FTX exchange, and the recent collapses of cryptocurrency-friendly U.S. banks Silvergate Bank and Signature Bank, which exposed the extreme risks investors face in the industry.Last year, the Quebec-based pension fund Caisse de Depot et Placement du Quebec stated that it had written off a $150 million investment in Celsius Network. The Ontario Teachers' Pension Plan also indicated last year that it had written down its $95 million investment in FTX to zero. (CoinDesk)