The latest 13F filings with the Securities and Exchange Commission reveal that major institutional investors have acquired shares in new spot bitcoin ETFs launched this quarter.
JUST IN: Wall Street firms with $15 billion in assets under management bought exposure #Bitcoin ETFs in the first quarter
This is just the beginning 💥 pic.twitter.com/MQ1TZp8tQp
– Bitcoin Magazine (@BitcoinMagazine) April 11, 2024
Companies managing more than $100 million in assets are required to disclose their stock holdings quarterly through 13F filings. Bitcoin investors have been eagerly awaiting these filings to find out who will buy the long-awaited Bitcoin ETFs.
The first quarter 2024 13F filings released this month provide the first glimpse into spot bitcoin ETF positions. While allocations are still small, the purchases indicate growing conviction in the merits of investing in Bitcoin.
Among the biggest buyers, AUM Park Avenue Securities LLC bought $9.9 billion worth of Grayscale's GBTC, while Inscription Capital LLC also snapped up $1.3 billion worth of shares.
Other institutions such as American National Bank and Wedmont Private Capital have bought positions in spot bitcoin ETFs. The value of purchases ranged from a few thousand dollars to hundreds of thousands of dollars.
However, across the board, major wealth managers, family offices, banks and investment funds are still taking immediate exposure to Bitcoin ETFs. This shows that despite Bitcoin's volatility, it passes institutional due diligence.
Furthermore, 13F files provide snapshots in time. The second quarter filings will provide more information when they are released in August. Wall Street is clearly becoming more comfortable with Bitcoin, and this steady adoption by corporate giants could continue.
