Wall Street Is Buying US Spot Bitcoin ETFs: 13F SEC Fillings
Major institutional investors are acquiring shares of a new spot Bitcoin ETF launched this quarter, according to the latest 13F report filed with the SEC.
JUST IN: Wall Street firms with $15 billion in total AUM have acquired: #Bitcoin Q1 ETFs
This is just the beginning 🎉 pic.twitter.com/MQ1TZp8tQp
— Bitcoin Magazine (@BitcoinMagazine) April 11, 2024
Companies that manage assets of more than $100 million must disclose their shareholdings quarterly through 13F reporting. Bitcoin investors have been eagerly awaiting these filings to find out who is buying the long-awaited Bitcoin ETF.
The Q1 2024 13F filings released this month provide the first glimpse into institutional spot Bitcoin ETF positions. Although allocations are still small, this purchase signals growing confidence in Bitcoin’s investment value.
Among the largest buyers were $9.9 billion AUM Park Avenue Securities LLC, which bought Grayscale’s GBTC, and $1.3 billion Inscription Capital LLC, which also acquired shares.
Other institutions, such as American National Bank and Wedmont Private Capital, have purchased spot Bitcoin ETF positions. Purchase amounts ranged from a few thousand dollars to hundreds of thousands of dollars.
Nonetheless, across the board, major asset managers, family offices, banks and investment funds are still chipping away at their spot Bitcoin ETF exposure. This shows that despite Bitcoin’s volatility, it passes institutional due diligence.
The 13F filing also provides a timely snapshot. The second quarter filings will provide more insight when they are released in August. Wall Street is clearly becoming more comfortable with Bitcoin, and this steady adoption by big companies could continue.
