The cryptocurrency community is eagerly awaiting the announcement of investors behind Bitcoin ETFs as May 15th approaches. This important date marks the deadline for investors managing assets over $100 million to file “13-F Filings” with the U.S. Securities and Exchange Commission (SEC) and reveal their holdings in publicly traded assets.
These applications, which must be made 45 days after the end of a quarter of the year, can give an idea about the investment strategies of large companies in the market. Although they do not cover every investor and represent just a moment in time, the upcoming announcements are expected to bring positive surprises regarding institutional participation in Bitcoin ETFs.
13F filings are defined as documents required quarterly by the U.S. Securities and Exchange Commission (SEC) for institutional investment managers with at least $100 million in eligible assets. If you're big enough to be in this lane, you have to disclose to the world your U.S.-traded stocks, options, and now Bitcoin ETFs as of the last day of the quarter.
But here's the kicker: not all 13F applications are equal. Not all of them signal true investment confidence.
Take, for example, market makers and high-frequency trading firms such as Citadel Securities, Susquehanna International Group (SIG), Renaissance Technologies, and Virtu Financial. For example, unlike Berkshire Hathaway indicating a bullish outlook on an announced position, Citadels and SIGs often trade swings to profit from small differences between bid and ask prices. Their holdings generally reflect high-volume trading rather than a long-term belief in the assets. Therefore, it pays to be careful when examining 13Fs.
*This is not investment advice.
