The Bitcoin award may be unstable, but it did not prevent huge financial institutions from continuing to invest more.
Large institutions such as pensions or hedge funds tripled their inventory of Spot Bitcoin-Bør-Distributed Funds (ETFs) in the fourth quarter of 2024, showed data from 13F archives with Securities and Exchange Commission (SEC).
Institutional investors bought $ 38.7 billion worth of Spot Bitcoin ETF according to Bitwise Chief Investment Officer, Matt Hougan. This is more than three times the previous quarter, with only $ 12.4 billion.
Investors with assets over $ 100 million are required by SEC to report their inventory every quarter.
Several hedge funds and pension funds have started buying the funds since January 2024, when the Bitcoin ETFs were first launched. Since then, some of them have increased their inventory in the past year, such as the state of Wisconsin’s Investment Board, which increased its stocks to just over 6 million shares in Blackrocks Ishares Bitcoin Trust (Ibit) from December 31.
Similarly, Billionaire Hedge Fund -Investor Paul Tudor almost doubled his share in Ibit to 8,048,552 shares, up from 4,428,230. Meanwhile, Corvex Management, an asset management company founded by investor Keith Meister in December 2010, revealed to have more than a million shares in Ibit at the end of the fourth quarter.
According to Bloomberg Intelligence Senior ETF analyst Eric Balchunas, IBIT currently has 1,100 institutional holders who have reported their share via 13F archives. He said that most newly launched ETFs typically have less than 10 holders.
“No way to trace but my guess is the record for the first year before this was [probably] As 350 [institutional holders for new ETFs]”Wrote Balchunas.
