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Investment Firms Disclosing Investments in Spot Bitcoin ETFs
Jaffe Tilchin Investment Partners, a Florida-based investment manager and insurance services advisor, was one of several firms that disclosed investments in spot Bitcoin ETFs on May 16. According to the disclosure, Jaffe Tilchin Investment Partners invested a total of $11.3 million in spot Bitcoin ETFs during the first quarter of the year. This investment included $9.8 million in BlackRock’s IBIT and $1.6 million in Grayscale’s GBTC.
Similarly, Nebraska-based investment advisor WealthPlan revealed a $2.2 million investment in GBTC, while Skyview, based in New Jersey, disclosed a $1.3 million investment in GBTC. Additionally, Texas-based Comerica Bank reported investments totaling $647,000 across four different funds. These investments included $361,395 in GBTC, $225,013 in IBIT, $33,219 in Ark’s ARKB, and $28,051 in Fidelity’s FBTC.
Nearly 1,000 Firms Join the Trend
These recent disclosures are part of a larger trend of investments in spot Bitcoin ETFs. Other notable firms that have invested in these ETFs include major players such as Millenium Management and Schonfield Strategic Advisors, as well as global banking giants like Morgan Stanley, JP Morgan Chase, Wells Fargo, BNP Paribas, and UBS.
According to reports, nearly 1,000 firms have invested in spot Bitcoin ETFs since their launch in January. K33 Research senior analyst Vetle Lunde indicated that 937 professional firms had collectively invested over $11 billion in US spot Bitcoin ETFs during the first quarter.
Bloomberg ETF analyst Eric Balchunas provided a similar estimate, stating that 929 institutions held at least one spot Bitcoin ETF, with 414 investors owning BlackRock’s IBIT.
SEC Approval Sparks Surge in Investments
The surge in investments can be attributed to the Securities and Exchange Commission’s (SEC) approval of spot Bitcoin ETFs in January. This approval marked the first time investors could purchase spot Bitcoin ETFs. One exception to this was GBTC, which was available prior to its conversion to an ETF.
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