The largest corporate holder of bitcoin, MicroStrategy, has revealed it plans on issuing additional shares, a move that could allow it to buy even more BTC and keep on adding to its $43 billion stash of the cryptocurrency. 

Six mutual funds tracking the price of the flagship cryptocurrency bitcoin are set to begin trading in Israel next week after receiving permission from the Israel Securities Authority (ISA). All six funds will start trading on Dec. 31, a stipulation imposed by the regulator.

Over-the-counter (OTC) cryptocurrency trading volumes have surged over the last few months after Republican presidential candidate Donald Trump won the U.S. elections, according to leading crypto trading firm.

Top stories in the Crypto Roundup today:

• Bitcoin Price Rises on MicroStrategy’s Share Issuance Plans
• Israel Approves Six Bitcoin Mutual Funds 
• Crypto OTC Trading Volumes Surged After Trump's Election Victory

Bitcoin Price Rises on MicroStrategy’s Share Issuance Plans

The largest corporate holder of bitcoin, MicroStrategy, has revealed its plans on issuing additional shares, a move that could allow it to buy even more BTC and keep on adding to its $43 billion stash of the cryptocurrency. 

MicroStrategy’s planned share issuance, disclosed in a Dec. 23 filing with the U.S. Securities and Exchange Commission (SEC), is being interpreted as a bullish sign as the firm has been increasing its BTC accumulation pace over the last few weeks.\

The filing saw the price of bitcoin rise to around $99,900 from a weekly low of around $92,500. The cryptocurrency failed to breach through the $100,000 level, and has since corrected, now trading at around $96,350.

The Nasdaq-listed company is looking for permission to increase the number of authorized Class A common stock and preferred stock shares, after purchasing $561 million worth of bitcoin last week to bring its total holdings to 444,262 BTC.

Israel Approves Six Bitcoin Mutual Funds

Six mutual funds tracking the price of the flagship cryptocurrency bitcoin are set to begin trading in Israel next week after receiving permission from the Israel Securities Authority (ISA). All six funds will start trading on Dec. 31, a stipulation imposed by the regulator.

The funds will be offered by several prominent Israeli financial institutions including Ayalon, IBI, Meitav, Midgal Capital Markets, More, and Phoenix Investment. Management fees will vary, ranging from as much as 1.5% to 0.25%, with one of the bunds being actively managed and trying to beat BTC’s performance.

While the funds are set to initially just trade once a day, future products are set to be able to trade continuously. The ISA’s decision to approve these mutual funds comes after the U.S. SEC greenlit spot bitcoin exchange-traded funds earlier this year, which have so far gathered $35.6 billion in assets.

Crypto OTC Trading Volumes Surged After Trump's Election Victory

Over-the-counter (OTC) cryptocurrency trading volumes have surged over the last few months after Republican presidential candidate Donald Trump won the U.S. elections, according to leading crypto trading firms.

This type of trading, conducted directly between buyers and sellers outside of public exchanges, has reportedly reached levels comparable to those seen during the 2021 crypto market boom, signaling renewed institutional interest in the cryptocurrency space.

Speaking to The Block Tim Ogilvie, the head of institutional at crypto exchange Kraken, revealed the exchange’s OTC volumes are up 220% year-over-year and that other firms have seen similar increases. Jake Ostrovskis, OTC trader at market making firm Wintermute, told the news outlet that OTC trading volumes started going up as the election approached and Trump's victory encouraged more investors to get into the market.

Crypto custodian BitGo quietly launched an OTC trading desk in the first half of the year following the approval of spot bitcoin ETFs, yet its head of Go Network, Brett Reeves attributed two-thirds of the firm’s OTC volumes to trading that occurred in the last three months.

Investors in OTC markets have also been observed venturing beyond bitcoin and ether into other cryptocurrencies with sufficient liquidity, including solana, tron, bnb, and aave. 

State of the Crypto by Top Tier Exchange Volume

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