Bitcoin’s journey towards reclaiming the $120,000 milestone is picking up speed, driven by a combination of supply constraints and significant developments worldwide.
Harvard University recently disclosed its investment of $116.6 million in BlackRock’s IBIT Bitcoin ETF. Meanwhile, El Salvador is embracing Bitcoin-focused investment banks, while regulatory hurdles have delayed Japan’s debut in the crypto ETF market.
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El Salvador Opens Door To Bitcoin Investment Banks
El Salvador has enacted a groundbreaking Investment Banking Law permitting regulated investment banks to hold Bitcoin and other digital assets on their balance sheets. These banks will cater exclusively to sophisticated investors and must possess a Digital Asset Service Provider license and at least $50 million in initial capital.
The law, approved recently, sets the stage for banks to operate solely as Bitcoin banks. Officials view this framework as a means to attract foreign investment and solidify the nation’s standing as a crypto finance hub. However, critics argue that the benefits may disproportionately favor affluent institutions over ordinary Salvadorans.
This development coincides with Japan’s delay in entering the Bitcoin ETF market. While US-based Bitcoin ETFs gain traction and countries like El Salvador forge ahead, Japan is yet to launch a Spot Bitcoin ETF.
Reports surfaced this week about SBI Holdings in Japan filing for spot crypto ETFs, but the company clarified that no applications have been submitted yet. Nonetheless, the company’s Q2 2025 earnings report indicated plans to introduce crypto-asset-linked investment trusts and ETFs pending regulatory approval.
Harvard University Commits Over $116 Million To Bitcoin ETF
Institutional confidence in Bitcoin received a significant boost as Harvard University invested $116.6 million in BlackRock’s IBIT spot Bitcoin ETF. This notable investment was disclosed in a recent filing with the US Securities and Exchange Commission by the Harvard Management Company.
This substantial position elevates Bitcoin’s role within Harvard’s equity portfolio, marking a shift in investment strategy following a reduction in exposure to major Big Tech stocks last quarter. The endowment acquired 1.9 million shares of iShares Bitcoin Trust, valued at $116.6 million, making Bitcoin the fifth-largest holding in Harvard’s equity portfolio.
Harvard’s move aligns with investment trends in the US, where spot Bitcoin ETFs have attracted over $54 billion in inflows since their introduction in early 2024.
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This development comes amidst tightening liquidity on major exchanges, contributing to growing bullish sentiment towards Bitcoin.
As of the latest update, Bitcoin is trading at $118,320, marking a 4% increase over the past week.
Featured image from Unsplash, chart from TradingView