According to the latest SEC 13F filings, major institutions have acquired shares of the new location. bitcoin ETFs This quarter, the launch of the new product.
Just in: Wall Street firms bought exposure to the cryptocurrencies Bitcoin and Ethereum. #Bitcoin In Q1, ETFs will be trading.
The beginning is only the start💥 pic.twitter.com/MQ1TZp8tQp
— Bitcoin Magazine (@BitcoinMagazine) April 11, 2024
The 13F form is required for companies that have assets in excess of $100 million. Bitcoin investors eagerly anticipated these filings in order to find out who was buying the much-anticipated Bitcoin ETFs.
File 13F for Q1 of 2024 released This month, we get our first look at institutional bitcoin ETF holdings. The purchases, while still small in number, show a growing confidence that Bitcoin is a good investment.
AUM Park Avenue Securities LLC, a $9.9-billion company, bought shares in Grayscale’s GBTC. Inscription Capital LLC, a $1.3-billion firm, also purchased GBTC.
Some institutions, such as American National Bank or Wedmont private Capital, have also purchased bitcoin spot ETFs. Purchases ranged in price from several thousand dollars up to hundreds of thousands.
Even so, the majority of wealth managers and family offices as well as banks, investment funds and even large banks are still snatching up spot exposure to bitcoin ETF. The fact that Bitcoin has passed institutional due diligence despite the volatility of Bitcoin shows its success.
The 13F filings also provide a snapshot in time. In August, the Q2 filings are expected to provide more insight. Wall Street seems to be getting more and more comfortable using Bitcoin. This steady adoption could continue.
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Source: bitcoinmagazine.com