Over 600 Firms Disclose Major Investments in Bitcoin Spot ETF to SEC
Summary:
Over the past week, more than 600 firms have reported vast investments in the Bitcoin spot ETF to the US Securities and Exchange Commission. The chief investment officer at Bitwise anticipates that nearly 700 companies will have invested $5 billion by May 15. The list comprises firms like Morgan Stanley, JPMorgan, Wells Fargo, and large hedge funds. Despite a recent slump in inflows, the Bitcoin spot ETF retains substantial attention from financial institutions.
In the week just passed, over 600 organisations have disclosed substantial commitments in the Bitcoin spot ETF via their most recent 13F submissions to the U.S. Securities and Exchange Commission (SEC). The leading investment officer at the cryptocurrency portfolio management company Bitwise conjectures that nearly 700 professional institutions will have allocated $5 billion into the Bitcoin spot ETF by the May 15 cut-off. As of May 9, 563 professional financial institutions declared owning Bitcoin ETFs valued at $3.5 billion. This roster includes Morgan Stanley, JPMorgan, Wells Fargo, UBS, BNP Paribas, Royale Bank of Canada and hedge funds such as Millennium Management and Schonfeld Strategic Advisors. Millennium Management has the biggest stake in BTC ETF with an investment of $1.9 billion, including $844.2 million in BlackRock’s IBIT, $806.7 million in Fidelity’s FBTC, $202 million in Grayscale’s GBTC, $45.0 million in Ark’s ARKB, and $44.7 million in Bitwise’s BITB. Schonfeld Strategic Advisors, a hedge fund controlling $13 billion assets, was the second leading spot BTC ETF investor with a combined $479 million in IBIT and FBTC. Boothbay Fund Management, a New York-based hedge fund manager, reported $377 million of spot Bitcoin ETFs which included $149.8 million in IBIT, $105.5 million in FBTC, $69.5 million in GBTC and $52.3 million in BITB. Pine Ridge Advisers, an advisory firm in New York, revealed a $205.8 million Bitcoin spot ETF investment, including $83.2 million in BlackRock's IBIT, $93.4 million in Fidelity’s FBTC, and $29.3 million in Bitwise's BITB. Morgan Stanley disclosed a $269.9 million investment exclusively in Grayscale’s GBTC, identifying itself as one of the largest GBTC stakeholders. Alternative asset manager Aristeia Capital Llc divulged a $163.4 million investment in IBIT. Connecticut-based investment firm Graham Capital Management stated a total investment of $102.6 million between IBIT and FBTC, while CRCM L.P announced a $96.6 million investment in IBIT. The New York-based investment company Fortress Investment Group LLC reported a $53.6 million stake in IBIT. Launched in mid-January, the Bitcoin spot exchange-traded fund (ETF) demand surged in the first quarter post-launch, although recent weeks have seen significantly diminished inflows. Despite the recent decrease, numerous financial institutions have reported billions of dollars of investments in the spot BTC ETF.
Published At
5/16/2024 2:27:34 PM
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