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Bracebridge Capital, a little-known Boston hedge fund, owns BlackRock and Ark Invest/21-stock ETF.
“They were basically enthused,” he wrote. bloomberg ETF analyst Eric Balchunas post Twitter (aka He pointed out that it was in dollars.
Excluding market makers and so-called authorized participants, who play a key role in maintaining accurate prices for spot Bitcoin ETFs through the creation and redemption of shares, Bracebridge Capital’s holdings represent “new highs,” Balchunas said.
Founded in 1994, Bracebridge Capital has approximately $12 billion in assets under management, according to the company. Recruitment Page. Described in 2016 as the world’s largest female-run hedge fund, the “secret” firm also manages funds from the endowments of Princeton University and Yale University. bloomberg news.
all filing The U.S. Securities and Exchange Commission (SEC) valued Bracebridge Capital’s spot Bitcoin ETF holdings in March at $434 million, excluding options. A snapshot of the company’s U.S. traded shares in the first quarter came when the price of Bitcoin was close to $72,000. Now it’s about $62,700.
Behind $300 million in Ark Invest and 21Shares’ Bitcoin ETF, Bracebridge Capital reported holding $100 million in BlackRock’s Bitcoin ETF and $26.5 million in Grayscale’s Bitcoin Trust.
In addition to holding a stake in BlackRock’s spot Bitcoin ETF, Bracebridge Capital held options on the product worth $284 million at the time. Excluding other spot Bitcoin ETFs, total exposure to BlackRock products represents 47% of Bracebridge Capital’s reported holdings.
All told, $718 million, or 88%, of Bracebridge Capital’s reported holdings consist of shares of spot Bitcoin ETFs or options based on them.
A representative for Bracebridge Capital declined to comment on the company’s SEC filing or the nature of its holdings. decryption.
Wall Street firms are said to have allocated $11.6 billion to Bitcoin ETFs since they were approved in the U.S. in January. farside investor. These figures undoubtedly include Bracebridge Capital’s large holdings, but as recently revealed, banking giant Like Wells Fargo.
Editor: Andrew Hayward
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The views and opinions expressed by the author are for information purposes only and do not constitute financial, investment or other advice.
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