𝙏𝙝𝙚𝙧𝙚 𝙖𝙡𝙡 𝙝𝙖𝙫𝙚 𝙡𝙖𝙫𝙚 𝙤𝙥𝙥𝙤𝙧𝙩𝙞𝙚𝙨 𝙚𝙫𝙚𝙣 𝙝𝙖𝙫𝙚 𝙩𝙝𝙖𝙩 𝙬𝙖𝙣𝙩𝙨 𝙚𝙫𝙚𝙣 𝙩𝙤 𝙢𝙖𝙫𝙚 ... 𝙢𝙞𝙜𝙧𝙖𝙣𝙙 𝙚𝙨𝙩𝙚 𝙛𝙪𝙣𝙙𝙤 — 𝙚𝙧𝙚𝙥𝙩𝙤𝙢𝙤𝙚𝙙𝙖𝙨 𝙞𝙣𝙨𝙞𝙚 ... Major U.S. asset managers have begun to set aside Nvidia (BDR: NVDC34 / Nasdaq: NVDA) shares to focus on an index — which is related to the digital asset market.
The giant and investor darling in the Artificial Intelligence (AI) sector has accumulated a 136.09% increase in 2024, but has recorded a 7.63% drop in one month, reflecting the recent increase in tensions between the U.S. and China in the chip and semiconductor sector.
Thus, some of the world's largest hedge funds are making a move that suggests it's not worth betting all their chips on the AI sector.
Instead, executives are migrating to shares in an exchange-traded index fund (ETF) from iShares, focused on bitcoin (BTC).
To recap, in January of this year, the SEC (US Securities and Exchange Commission) approved the first spot bitcoin ETFs in the United States, opening up a new investment front.
More specifically, managers are eyeing the iShares Bitcoin Trust (IBIT), an ETF that seeks to replicate the price of bitcoin on the US stock exchange using the CME CF Bitcoin Reference Rate index.
