Summary
Major institutional investors have been acquiring shares in new spot bitcoin ETFs, with companies like Park Avenue Securities and Inscription Capital buying into Grayscale’s GBTC. While allocations remain small, the purchases signal growing conviction in Bitcoin’s investment merits. Q1 2024 13F filings show that major wealth managers, family offices, banks, and investment funds are starting to nibble on spot bitcoin ETF exposure, indicating institutional comfort with Bitcoin. Further insight will be provided in Q2 filings released in August.
Key Points
1. Major institutional investors have been acquiring shares in new spot bitcoin ETFs that launched this quarter, as revealed in the latest 13F filings with the SEC.
2. Companies managing over $100 million in assets are required to disclose their equity holdings quarterly through 13F filings, providing insight into institutional spot bitcoin ETF positions and signaling growing conviction in Bitcoin’s investment merits.
3. Despite Bitcoin’s volatility, major wealth managers, family offices, banks, and investment funds are showing interest in spot bitcoin ETF exposure, with purchases ranging from a few thousand dollars to hundreds of thousands of dollars, indicating institutional due diligence and potential for continued adoption by giants on Wall Street.