Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bank of America (NYSE:BAC) is taking a more active stance on cryptocurrencies. Bank of America will start recommending several cryptocurrency exchange-traded funds to wealth clients starting Jan. 5, according to a statement to Benzinga. The move marks a shift from the Bank of America’s previous policy of offering digital asset investments to clients only on request. Bank of America Head of Investment Sol ...

Core Insights - Emory University has significantly increased its investment in bitcoin, holding over 1 million shares of the Grayscale Bitcoin Mini Trust valued at nearly $52 billion as of September 30 [1] - The university's initial investment in Grayscale's trust was disclosed in October 2024, valued at just over $15 million [2] - Emory's endowment has also invested nearly $79 million in BlackRock's iShares Gold Trust, indicating a broader interest in hard assets [2] Investment Details - The university's position in BlackRock's spot bitcoin ETF remained unchanged during the third quarter, valued at approximately $290,000 [2] - Emory modestly increased its equity stake in Coinbase, now holding nearly 4,500 shares worth close to $1.2 million, a slight increase from the previous year [3] Institutional Trends - The growing interest in bitcoin ETFs by endowments like Emory's reflects a notable shift among institutional investors towards more aggressive asset classes [4] - Emory's increasing allocations to bitcoin, although still a small part of its overall portfolio, indicate a rising comfort level with the asset, particularly through regulated investment vehicles like ETFs [5]

Core Insights - Pop Culture Group Co Ltd. experienced a significant stock price movement, with shares initially rising by 47% to a high of $2.13 before retracing by 2.47% in after-hours trading [2][5]. - The company has initiated a cryptocurrency fund pool, purchasing 300 Bitcoin for $33 million, which will also include other cryptocurrencies like Ethereum and Hyperbot [3][4]. Company Developments - The purpose of the newly established fund is to invest in promising cryptocurrencies within the Web3 pan-entertainment sector and projects with high growth potential [4]. - CEO Huang Zhuoqin emphasized that this strategic investment is aimed at building a global Web3 pan-entertainment super ecosystem [4]. Stock Performance - During regular trading on Wednesday, Pop Culture shares closed 12.50% higher at $1.62, but the after-hours session saw a decline of 2.47% [2][5]. - Over the past six months, the stock has surged by 179%, indicating strong momentum in the market [5].