These Traditional Finance Giants Bought Bitcoin ETFs Last Quarter

Bitcoin continues to reach new levels of adoption in the real world, as traditional finance (TradFi) companies embrace the digital asset at a remarkable pace. The significant investment in Bitcoin exchange-traded funds (ETFs) indicates growing institutional interest in cryptocurrency assets.

Last quarter, a surprising number of US banks, investment managers, hedge funds and professional firms purchased spot Bitcoin ETFs, as shown in their 13F filings with the Securities and Exchange Commission (SEC).

a tweet Digital asset investment analysis platform K33 Research revealed that 937 professional companies in the United States had invested in the Bitcoin ETF spot market as of March 31. Therefore, it can be difficult to know and list every TradFi company that jumped on the Bitcoin ETF bandwagon in the first three months of the year.

TradFi Giants Jump on the BTC Bandwagon

Some of the largest ETF investments in Bitcoin have come from Millennium Management, a heavyweight hedge fund, and Susquehanna International Group (SIG), a global quantitative trading firm. The companies announced investments of $2 billion and $1 billion in Bitcoin products, respectively.

The investments by Millennium Management and SIG were followed by Bracebridge Capital, a Boston-based hedge fund that manages money for major universities such as Yale and Princeton, and Boothbay Fund, another New York-based fund manager. The entities purchased ETFs worth $434 million and $377 million, respectively.

Big disclosures about ETFs also came from the largest US banking firm Morgan Stanley and consulting firm Pine Ridge Advisors, with investments totaling $269 million and $205.8 million, respectively.

Additionally, alternative asset manager Aristeia Capital, investment firm Graham Capital, and hedge fund manager Crcm LP reported significant exposures of $163.4 million, $102.6 million, and $96.6 million, respectively, to Bitcoin exchange-traded funds.

Which countries to follow?

Many other professional firms have disclosed smaller investments in the Bitcoin ETF market. Some of them include Hightower Advisors with $68 million exposure, Fortress Investment Group with $53.6 million, Cambridge Investment Research with $40 million, Sequoia Financial Advisors with $12 million, Integrated Advisors with $11 billion, and Brown Advisory with $4 million. .

It is worth noting that major banks such as JPMorgan Chase and Wells Fargo have invested smaller amounts, totaling $760,000 and $143,000, respectively, in the Bitcoin ETF market.

It's also worth noting that most of these companies spread their investments across multiple ETFs, with GBTC from Grayscale, IBIT from BlackRock, FBTC from Fidelity, and ARKB from Ark Invest seeing the largest allocations.

Meanwhile, the digital assets market may soon see an influx of investments from professional state-owned companies. The Wisconsin Investment Board has already set the tone for its $163 million Bitcoin ETF exposure.