Price analysis 8/20: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH

Wells Fargo, in partnership with NYDIG and alternative assets manager FS Investments, has registered a new investment fund dubbed “FS NYDIG BITCOIN FUND I,” which will offer the bank’s wealthy clients an opportunity to gain indirect exposure to Bitcoin (BTC). 

In another sign of growing institutional interest, filings submitted to the U.S. Securities and Exchange Commission by BlackRock show a 6.71% stake in Marathon Digital Holdings and a 6.61% stake in Riot Blockchain. BlackRock’s total investments in both the publicly traded Bitcoin mining firms are roughly valued at $384 million.

Daily cryptocurrency market performance. Source: Coin360

Coinbase CEO Brian Armstrong announced on Aug. 20 that the company’s board had approved a proposal to add $500 million worth of crypto to the balance sheet and allocate 10% of the profits earned into crypto purchases in the future.

With this move, Coinbase will become the first publicly-traded company to hold Ether (ETH), decentralized finance tokens and proof-of-stake assets on its balance sheet.

The institutional interest in crypto continues to grow and that may bode well for the sector in the future. Let’s study the charts of the top-10 cryptocurrencies and determine the critical levels to watch out for.