A Boston-based hedge fund has gobbled up $363 million worth of spot Bitcoin (BTC) exchange-traded fund (ETF) shares.
Bracebridge Capital has reported owning $262 million worth of the ARK 21Shares Bitcoin ETF (ARKB), $81 million worth of BlackRock’s iShares Bitcoin Trust (IBIT) and $20 million worth of Grayscale Bitcoin Trust ETF (GBTC), according to Eric Balchunas, a senior ETF analyst at Bloomberg.
[adinserter block="1"]
Bracebridge reports around $12 billion worth of net assets under management (AUM) and is known for managing endowment money for Ivy League institutions, including Yale and Princeton.
According to Balchunas, the firm also holds significant investments in the biotech firm Alvotech, the holding company Ambac Financial and the security solutions firm ADT.
Some of the biggest financial institutions in the US have also been holding spot Bitcoin ETF shares on behalf of their clients:
In a new Form F13 filing, which requires institutional investment managers to disclose their holdings, JPMorgan says it holds around $760,000 worth of BTC ETF shares on behalf of its clients, spread across BlackRock’s iShares Bitcoin Trust, the ProShares Bitcoin Strategy ETF (BITO), Fidelity’s Wise Origin Bitcoin Fund (FBTC), the Grayscale Bitcoin Trust and the Bitwise Bitcoin ETF.
Wells Fargo also says holds 2,245 shares of the Grayscale Bitcoin Trust worth nearly $123,000 at time of writing.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
