Significant Investments in Spot Bitcoin ETFs by Various Firms Revealed
On May 16, Jaffe Tilchin Investment Partners, along with other firms, announced their investments in spot Bitcoin ETFs. The investment manager and insurance services advisor based in Florida disclosed an investment of $11.3 million in spot Bitcoin ETFs for the first quarter. This investment was split between $9.8 million in BlackRock’s IBIT and $1.6 million in Grayscale’s GBTC.
In addition, WealthPlan, an investment advisor from Nebraska, reported investing $2.2 million in GBTC. Similarly, Skyview, an investment advisor located in New Jersey, revealed a $1.3 million investment in GBTC. Comerica Bank from Texas disclosed an investment of $647,000 across four funds, which included $361,395 in GBTC, $225,013 in IBIT, $33,219 in Ark’s ARKB, and $28,051 in Fidelity’s FBTC.
The report comes in the wake of investments by other significant entities, including large holders like Millenium Management and Schonfield Strategic Advisors, as well as major global banks such as Morgan Stanley, JP Morgan Chase, Wells Fargo, BNP Paribas, and UBS. In total, nearly 1,000 firms have invested in spot Bitcoin ETFs since their introduction in January.
Vetle Lunde, a senior analyst at K33 Research, reported that 937 professional firms had invested over $11 billion in US spot Bitcoin ETFs during the first quarter. Bloomberg ETF analyst Eric Balchunas provided a similar estimate, noting that 929 institutions had invested in at least one spot Bitcoin ETF, with 414 of those investors owning BlackRock’s IBIT.
The SEC’s approval of spot Bitcoin ETFs in January marked the first quarter that investors could engage with spot Bitcoin ETFs, with the exception of GBTC, which was available before its conversion to an ETF.