US asset management giant SIG purchased $1.3 billion worth of Bitcoin spot ETF assets in the first quarter of this year, with the GBTC alone reaching a scale of $1 billion. Since large investment institutions with assets over $100 million must disclose their quarterly holdings through 13F filings by May 15, it is expected that more institutions will disclose their holdings in the coming week.
(Background:
Europe’s second-largest French bank, BNP Paribas, buys BlackRock Bitcoin ETF, more institutions may disclose in the next two weeks.)
Since the US Securities and Exchange Commission (SEC) approved the listing of multiple Bitcoin spot ETFs in January this year, it has provided investors with a convenient channel to participate in the Bitcoin market, and the market expects more funds from outside the circle and institutional funds to flow in. The head of BlackRock’s digital asset division mentioned in an interview on the 2nd that in the coming months, financial institutions including sovereign wealth funds, retirement funds, and donation funds may start participating in spot ETF trading.
SIG purchased over $1.3 billion worth of Bitcoin spot ETF assets in the first quarter of this year, according to its 13F-HR report (SEC requires investment institutions with assets over $100 million to disclose their quarterly holdings). Among them, the GBTC alone reached a scale of $1 billion, specifically including:
GBTC: 17,271,326 shares, valued at approximately $1.09 billion as of Q1
FBTC: 1,349,414 shares, valued at approximately $83.74 million as of Q1
IBIT: 583,049 shares, valued at approximately $23.59 million as of Q1
BITB: 560,832 shares, valued at approximately $21.7 million as of Q1
ARKB: 508,824 shares, valued at approximately $36.11 million as of Q1
BRRR: 192,391 shares, valued at approximately $3.87 million as of Q1
BTCO: 166,200 shares, valued at approximately $11.8 million as of Q1
HODL: 256,354 shares, valued at approximately $20.6 million as of Q1
BTCW: 255,814 shares, valued at approximately $19.29 million as of Q1
In addition, they also hold other Bitcoin-related assets, investing in a total of 30 products including the above Bitcoin spot ETFs:
Bitcoin futures ETF BITO: 7,907,827 shares, valued at approximately $250 million as of Q1, currently valued at around $200 million. Compared with the data disclosed in the fourth quarter of last year, it increased its holdings by 57.49%.
MicroStrategy (MSTR): 244,863 shares, valued at approximately $410 million as of Q1, currently valued at around $300 million. Compared with the data disclosed in the fourth quarter of last year, it reduced its holdings by 14.74%.
Nevertheless, Susquehanna’s cryptocurrency holdings only account for a small portion of the company’s investment portfolio, with the total value of its investment portfolio exceeding $575.8 billion at the end of the first quarter.
Since large investment institutions with assets over $100 million must disclose their quarterly holdings through 13F filings by May 15, it is expected that more institutions will disclose their holdings in the coming week.
Bitcoin ETF sees net outflows again after two consecutive days of inflows
Bitcoin ETFs are increasingly becoming tools for asset management companies and financial advisors to participate in the digital asset market. In April this year, Fidelity’s Bitcoin ETF (FBTC) received a $40 million investment from two traditional financial advisory companies, Legacy Wealth Management (AUM $359 million) and United Capital Management of Kansas (AUM $436 million), with each investing $20 million in FBTC, becoming major shareholders of the fund.
However, according to Sosovalue statistics, after 11 US Bitcoin spot ETFs experienced two consecutive days of net inflows, data from yesterday (7th) showed net outflows again. GBTC saw a net outflow of $29 million yesterday, IBIT remained unchanged, FBTC, ARKB, and BTCO saw a net inflow of approximately $13 million in total, resulting in a net outflow of $15.64 million overall.
Previously, some market analysts believed that individual investors were the main buyers of Bitcoin ETFs in recent months, and institutions were not moving as quickly. Now, with more institutions disclosing their holdings, we will have more clues to make judgments.