<img src="https://bitcoinmagazine.com/.image/c_fit%2Ch_800%2Cw_1200/MTc5Mjk3Nzg2NjEyNzU0MTE1/bitcoin-etf-delayed-but-wall-street-has-on-ramps.jpg” />
The latest 13F filings with the SEC reveal that major institutional investors have been purchasing shares in the new bitcoin spot ETFs that launched this quarter.
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JUST IN: Wall Street firms with a combined $15 BILLION in AUM bought exposure to twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF in the first quarter
This is just the beginning pic.twitter.com/MQ1TZp8tQp
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1778373845243625633?ref_src=twsrc%5Etfw”>April 11, 2024
Companies managing more than $100 million in assets are required to disclose their equity holdings quarterly through 13F filings. bitcoin investors have been eagerly awaiting these filings to see who is buying the long-awaited bitcoin ETFs.
13F filings for the first quarter of 2024 released This month they provide the first look at institutional bitcoin spot ETF holdings. While allocations remain small, the purchases indicate growing conviction in the investment merits of bitcoin.
Among the largest buyers, $9.9 billion AUM Park Avenue Securities LLC bought GBTC from Grayscale, while $1.3 billion Inscription Capital LLC also purchased shares.
Other institutions such as American National Bank and Wedmont Private Capital bought positions in spot bitcoin ETFs. Purchases ranged from a few thousand dollars to hundreds of thousands of dollars.
Still, overall, major wealth managers, family offices, banks and investment funds are still nibbling on spot exposure to bitcoin ETFs. This shows that despite bitcoin's volatility, it is passing institutional due diligence.
Additionally, 13F filings provide snapshots in time. The second quarter filings will offer more information when they are released in August. It is evident that Wall Street is becoming increasingly comfortable with bitcoin, and this continued adoption by the giants could well persist.
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