In the latest high-profile trade involving Bitcoin, $130 billion asset management firm Hightower revealed it has purchased $68 million worth of Spot Bitcoin ETFs. Today, Hightower disclosed the following Bitcoin ETF position in its 13F SEC filing:
- Grayscale BTC: $44,838,000 (709,956 shares)
- Fidelity Bitcoin ETF: $12,410,000 (200,084 shares)
- BlackRock Bitcoin ETF: $7,621,000 (188,397 shares)
- ARK Bitcoin ETF: $1,702,000 (23,964 shares)
- Bitcoin ETF per bit: $988,000 (25,449 shares)
- Franklin Templeton Bitcoin ETF: $788,000 (19,129 shares)
While the diversification of investments in Bitcoin ETFs is an interesting highlight, it still only increases optimism about the world's leading cryptocurrency. Hightower Advisors is one of the nation's leading RIA firms. The company helps financial advisory businesses grow and connects customers with financial advisors.
Hightower becomes the latest celebrity spot Bitcoin ETF investor
The success of spot Bitcoin ETFs is undeniable. Bitcoin has taken over the ETF market since its SEC approval in January 2024, with year-to-date assets soaring to all-time highs. Investors looking for new options to put their money are turning to BTC as a key player in stock trading. Moreover, with the help of Grayscale, BlackRock, and other options spot Bitcoin ETFs, this asset has become famous across the United States.
Also read: Hong Kong Bitcoin ETF predicted to reach $1 billion in assets under management in 2024
Although there is no clear reason why Hightower split its Spot Bitcoin ETF investment this way, the spread is still big news. This investment in the BTC ETF will only increase interest from other asset managers in Bitcoin and exchange-traded funds. Additionally, trillions of dollars have been invested in these assets over the past few months, and the train doesn't seem to be slowing down.
Hightower has not yet publicly commented on his decision to invest $68 million in the Spot Bitcoin ETF.
