After being approved by the SEC for listing in early January this year, the Bitcoin spot ETF has gone through seven months of market testing. During this period, Bitcoin once soared to US$73,000 and then continued to fluctuate as if it stalled. It was far from achieving investors' original expectations, and it also made people doubt whether institutions had entered the market.
Bloomberg: 701 new funds report holdings in Bitcoin spot ETFs
However, according to Bloomberg’s latest report today (16th), the just-concluded U.S. 13F institutional position report revealed that 701 new funds have increased their holdings of Bitcoin spot ETFs in Q2, bringing the total number of holders to 1,950 funds.
Among them, well-known buyers include hedge fund giant Millennium Management, which has a capital management scale of US$68 billion and is the largest holder of at least five Bitcoin spot ETFs. Other buyers include Capula Investment Management, Schonfeld Strategic Advisors and Steven Cohen's Point72 Asset Management.
Note: The 13F report is a quarterly report stipulated by the U.S. Securities and Exchange Commission (SEC) that investment institutions or advisors with assets under management exceeding US$100 million must submit their common stocks (including ETFs) within 45 days after the end of each quarter. ), options, American depositary receipts (ADRs), convertible bonds, etc.
Analyst: The entry of a large number of funds is exciting
In this regard, cryptocurrency author Noelle Acheson said that given the current poor price performance of Bitcoin and the fact that few financial advisors are allowed to recommend Bitcoin ETF products to clients, there are so many funds investing in Bitcoin spot ETFs. This is an exciting event for investors.
In addition, Acheson also added that as Wall Street investment bank Morgan Stanley allowed its financial advisors to recommend Bitcoin spot ETFs to clients last week, more large investment banks may open up this condition in the future, in order to provide better conditions for the Bitcoin market. Create more demand.
U.S. Bitcoin spot ETF scale reaches $53.6 billion
According to Sosovalue data, since the U.S. Bitcoin spot ETF was listed in January this year, as of August 14, the capital scale has reached 53.6 billion US dollars, accounting for 4.59% of the total market value of Bitcoin.
Bloomberg senior ETF analyst Eric Balchunas also wrote this week that BlackRock IBIT now holds 3,477.67 million Bitcoins, second only to the exchange Binance and the holdings of Bitcoin founder Satoshi Nakamoto.
In addition, based on current growth estimates (currently 900,000), the number of Bitcoins held by the U.S. Bitcoin ETF may be expected to exceed the 1.1 million Bitcoins held by Satoshi Nakamoto in October.
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