JPMorgan, Morgan Stanley And UBS Among More Than 600 Firms Invested In Spot Bitcoin ETFs, Filings Show

Investment
banking
titans
including
Morgan
Stanley,
JPMorgan
and
UBS
are
among
600
firms
that
have
socked
billions
of
dollars
into
spot
Bitcoin
ETFs
(exchange-traded
funds).

That’s
according
to
13F
filings
with
the
US
Securities
and
Exchange
Commission
(SEC),
which
show
that
collectively
professional
investment
management
firms
have
allocated
around
$3.5
billion
to
spot
Bitcoin
ETFs.

Millennium
Management
Emerges
As
The
Largest
Spot
BTC
ETF
Investor

Alternative
investment
firm
Millennium
Management,
with
more
than
$64
billion
in
assets
under
management,
is
the
biggest
investor
in
BTC
ETFs
with


$1.9
billion.
Its
biggest
position
is
in
BlackRock’s
iShares
Bitcoin
Trust
(IBIT),
with
$844.2
million. 

Millennium
also
invested
in
four
other
spot
Bitcoin
ETFs:
Fidelity’s
Wise
Origin
Bitcoin
Fund
(FBTC),
the
Grayscale
Bitcoin
Trust
(GBTC),
as
well
as
the
ARK
21Shares
Bitcoin
ETF
(ARKB)
and
the
Bitwise
Bitcoin
ETF
(BITB).

The
second
largest
investor
is
Schonfeld
Strategic
Advisors,
which
is
a
hedge
fund
boasting
$13
billion
in
assets
under
management.
Its
filing
showed
that
the
firm
invested
$248
million
in
BlackRock’s
IBIT
and
$231.8
million
in
Fidelity’s
fund.

$IBIT
ended
up
with
414
reported
holders
in
its
first
13F
season,
which
is
mind
boggling,
blows
away
record.
Even
having
20
holders
as
a
newborn
is
bfd,
highly
rare.
Here’s
a
look
at
how
the
btc
ETFs
compare
to
other
ETFs
launched
in
Jan
(aka
the
Class
of
2024)
in
this
metric.

pic.twitter.com/ngicEdbaTq

—
Eric
Balchunas
(@EricBalchunas)

May
16,
2024

Morgan
Stanley
emerged
as
one
of
the
biggest
holders
in
GBTC.
The
investment
giant
owned
$269.9
million
worth
of
shares,
according
to
its
filings. 

Meanwhile,
other
financial
giants
such
as
JPMorgan,
Wells
Fargo,
UBS,
BNP
Paribas
and
Royal
Bank
of
Canada
also
revealed
investments
in
spot
Bitcoin
ETFs.

More
Capital
Could
Soon
Flow
Into
Bitcoin
ETFs

More
capital
could
soon
enter
the
burgeoning
spot
Bitcoin
ETF
market,
which
experienced
a
roaring
start
after
11
funds
launched
in
the
US
in
January. 

Sovereign


wealth
funds,
pensions
funds
and
endowments
are
among
those
expected
to
pour
funds
into
these
investment
products,
according
to
BlackRock.
This
comes
after
the
fund
management
titan
revealed
“having
ongoing
diligence
and
research
conversations”
with
a
number
of
these
money
managers.

Morgan
Stanley
is
reportedly


considering

expanding
the
sale
of
these
funds
by
giving
its
15,000
brokers
the
ability
to
solicit
customer
purchases. 

Up
until
now,
the
Wall
Street
giant
has
only
sold
these
investment
products
on
an
unsolicited
basis.
This
means
that
customers
must
ask
for
spot
Bitcoin
ETFs
to
be
included
in
their
investment
portfolios.

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