Experiencing phenomenal growth, BlackRock's spot Bitcoin ETF garnered more than 400 asset ownership notifications in its first 13F season, which Bloomberg ETF analyst Eric Balchunas described as a “mind-blowing” and record-breaking achievement.
Balchunas expressed his surprise in his post on
Over the past month and a half, 13F filings for financial institutions have been gradually released. These filings, which report Bitcoin Spot ETF holdings as of the end of the first quarter of 2024, provide valuable information about which entities are purchasing spot Bitcoin ETF shares and the scope of each purchase.
Total filings reveal that 937 professional firms had investments in ETFs as of March 31. That's ten times the number invested in gold ETFs, according to an analysis by Bitwise.
According to analysis by K33 Research, professional investors held 18.7% of total managed assets in BTC ETFs with $11.06 billion at the end of the first quarter.
Teddy Fusaro, President of Bitwise Asset Management, stated that the market reflects a virtuous cycle in which allocations from other institutions increase as they see real, large and established institutional investors begin to invest in Bitcoin. Fusaro also addressed the skepticism of market commentators who theorized that inflows exceeding $53 billion were due entirely to individual interest. According to Fusaro, the first 13F reporting season disproved this theory.
*This is not investment advice.