Over the past week, more than 600 firms have revealed significant investments in spot Bitcoin exchange-traded funds (ETFs) in their 13F filings with the United States Securities and Exchange Commission (SEC).
According to the filing data, professional investment firms reported owning $3.5 billion worth of Bitcoin ETFs.
Among them are Morgan Stanley, JPMorgan, Wells Fargo, UBS, BNP Paribas, Royal Bank of Canada and hedge funds like Millennium Management and Schonfeld Strategic Advisors.
Millennium is the largest BTC ETF investor, with $1.9 billion invested. It invested $844.2 million in BlackRock’s iShares Bitcoin Trust (IBIT), $806.7 million in Fidelity’s Wise Origin Bitcoin Fund (FBTC), $202 million in the Grayscale Bitcoin Trust (GBTC), $45.0 million in the ARK 21Shares Bitcoin ETF (ARKB) and $44.7 million in the Bitwise Bitcoin ETF (BITB).
Schonfeld Strategic Advisors, a hedge fund with $13 billion in assets under management, was the second-largest spot BTC ETF investor with a $248 million investment in BlackRock’s ETF and a $231.8 million investment in Fidelity’s fund, totaling $479 million.
Boothbay Fund Management, a New York-based hedge fund manager, declared a $377 million exposure to spot Bitcoin ETFs, with $149.8 million in IBIT, $105.5 million in FBTC, $69.5 million in GBTC and $52.3 million in BITB.
Pine Ridge Advisers, a New York-based advisory firm, announced a $205.8 million investment in spot Bitcoin ETFs, with $83.2 million in IBIT, $93.4 million in FBTC and $29.3 million in BITB.
Morgan Stanley revealed a $269.9 million investment in GBTC, making it one of the largest GBTC holders. Aristeia Capital, an alternative asset manager, revealed a $163.4 million investment in IBIT.
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Graham Capital Management, a Connecticut-based investment firm, declared a $98.8 million investment in IBIT and $3.8 million in FBTC, while CRCM disclosed a $96.6 million investment in IBIT. Fortress Investment Group, a New York-based investment firm, disclosed a $53.6 million investment in IBIT.
Spot Bitcoin ETFs launched in the second week of January, with massive demand in the first three months since they launched. However, in recent weeks, inflows have dwindled significantly. Despite the recent slump, hundreds of financial institutions have revealed billions of dollars invested in spot BTC ETFs.
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