JPMorgan, Morgan Stanley and UBS Among More Than 600 Firms Investing in Bitcoin Spot ETFs, Filings Show

Investment banking titans including Morgan Stanley, JPMorgan and UBS are among 600 firms that have invested billions of dollars in spot bitcoin ETFs (exchange-traded funds).

That's according to 13F filings with the US Securities and Exchange Commission (SEC), showing that coCollectively professional investment management firms have allocated around $3.5 billion to spot bitcoin ETFs.

<img decoding="async" alt="bitcoin ETF” src=”https://technicalterrence.com/wp-content/uploads/2024/05/JPMorgan-Morgan-Stanley-and-UBS-Among-More-Than-600-Firms.jpg”/><img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2024/05/JPMorgan-Morgan-Stanley-and-UBS-Among-More-Than-600-Firms.jpg" alt="bitcoin ETF”/>

Millennium Management emerges as the largest spot investor in btc ETFs

Alternative investment firm Millennium Management, with over $64 billion in assets under management, is the largest investor in btc ETFs with 1.9 billion dollars. Its largest position is in BlackRock's iShares bitcoin Trust (IBIT), with $844.2 million.

Millennium also invested in four other spot bitcoin ETFs: Fidelity's Wise Origin bitcoin Fund (FBTC), Grayscale bitcoin Trust (GBTC), as well as ARK 21Shares bitcoin ETF (ARKB) and Bitwise bitcoin ETF (BITB).

The second largest investor is Schonfeld Strategic Advisors, a hedge fund with $13 billion in assets under management. Its filing showed the firm invested $248 million in BlackRock's IBIT and $231.8 million in Fidelity's fund.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”12.294617563739″>

twitter.com/search?q=%24IBIT&src=ctag&ref_src=twsrc%5Etfw”>$ VA ended up with 414 reported starters in his first 13F season, which is mind-blowing, beats the record. Even having 20 starters when you're a newborn is silly, very rare. Below is how the btc ETFs compare to other ETFs launched in January (aka the Class of 2024) on this metric. pic.twitter.com/ngicEdbaTq

– Eric Balchunas (@EricBalchunas) twitter.com/EricBalchunas/status/1791079436953022885?ref_src=twsrc%5Etfw”>May 16, 2024

Morgan Stanley emerged as one of the largest holders of GBTC. The investment giant owned shares worth $269.9 million, according to its filings.

Meanwhile, other financial giants such as JPMorgan, Wells Fargo, UBS, BNP Paribas, and Royal Bank of Canada also revealed investments in spot bitcoin ETFs.

More capital could soon flow into bitcoin ETFs

More capital could soon be flowing into the burgeoning bitcoin ETF spot market, which saw a spectacular start after the launch of 11 funds in the US in January.

Sovereign endowment funds, pension funds and endowments are among those expected to invest funds in these investment products, according to BlackRock. This comes after the fund management titan revealed “having ongoing diligence and research conversations” with a number of these money managers.

Morgan Stanley is reported to considering expand the sale of these funds by giving its 15,000 brokers the ability to solicit purchases from clients.

Until now, the Wall Street giant has only sold these investment products unsolicited. This means that clients should request that spot bitcoin ETFs be included in their investment portfolios.

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