Recently filed 13F SEC reports have revealed some major US corporations. financial Institutions are investing serious funds in Bitcoin spot ETFsThe filings disclose the investments of institutions with over 100 million dollars allocated.
Investors have been eagerly anticipating these filings since the SEC has approved several Bitcoin spot ETFs this year. Filings revealed names including State of Wisconsin Investment Board, Wells Fargo, JPMorgan Other people.
The latest revelations show mammoth sizes financial Services firm Morgan Stanley What have you bought? $269.9 million Grayscale’s GBTC is worth a lot of money. Morgan Stanley is one of the biggest institutional investors in GBTC. Susquehanna’s $1.8 billion position.
Morgan Stanley has revealed that it holds $1.5 trillion in spot #Bitcoin ETF disclosure in SEC documents👀 pic.twitter.com/tRAznuHHRF
— Bitcoin Magazine (@BitcoinMagazine) May 17, 2024
This allocation shows the Wall Street giant’s increasing confidence in Bitcoin’s role within portfolios.Â
This bank has joined other large banks such as JP Morgan and BNPParibas in revealing their spot Bitcoin ETF purchase.
While some financial firms, like Vanguard have been opposed to Bitcoin, the trend has been towards greater Bitcoin exposure. Customers are demanding Bitcoin growth as an inflation hedge, and also an alternative asset.
The fact that old guard banks are now steadily investing in Bitcoin ETFs is a major change. Morgan Stanley made its purchase after executives spoke positively of Bitcoin’s future. It’s a sign that traditional finance is beginning to see the potential of bitcoin, even though it represents a tiny portion of AUM.
The ETFs are a great way to get started with Bitcoin. The disclosures for Q1 provide concrete evidence that these institutions are increasingly convinced of the longevity of bitcoin.
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Source: bitcoinmagazine.com