A Boston-based hedge fund has bought up $363 million worth of physical Bitcoin (BTC) exchange-traded fund (ETF) shares.
Bracebridge Capital is reported as possessing The ARK 21Shares Bitcoin ETF (ARKB), worth $262 million, and BlackRock's iShares Bitcoin Trust ETF (IBIT, worth $81 million), according to Eric Balchunas, senior ETF analyst at Bloomberg. ), the $20 million Grayscale Bitcoin Trust ETF (GBTC).
Bracebridge reports assets under management (AUM) worth approximately $12 billion and is known for managing endowments to Ivy League institutions such as Yale University and Princeton University.
According to Balciunas, the company also: hold Major investments in biotechnology company Alvotech, holding company Ambac Financial, and security solutions company ADT.
Some large U.S. financial institutions are holding Spot Bitcoin ETF shares on behalf of their clients.
In a new Form F13 filing that requires institutional investors to disclose their holdings, JPMorgan holds about $760,000 worth of BTC ETF shares on behalf of clients, including BlackRock's iShares Bitcoin.・Trust stated that it is diversified in the ProShares Bitcoin Strategy ETF (BITO). Fidelity's Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust, and Bitwise Bitcoin ETF.
Wells Fargo also claims to own 2,245 shares of Grayscale Bitcoin Trust, valued at approximately $123,000 at the time of writing.
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