Bitrabo Editorial
According to a recent memo by Matt Hougan, the Chief Investment Officer at Bitwise, an analysis based on 13F filings with the SEC revealed the early adopters of Bitcoin Exchange-Traded Funds (ETFs) are professional investment firms. This indicates a growing acceptance of Bitcoin ETFs among institutional investors, potentially reshaping the landscape of BTC investments.
Since their launch on January 11, Bitcoin ETFs have amassed a remarkable $11.7 billion in assets, marking one of the most successful ETF debuts in financial history. This strong start has generated curiosity regarding the investors involved – whether they are mostly retail or institutional.
Investors in Spot Bitcoin ETFs
The memo by Hougan suggests that a significant number of professional investors hold Bitcoin ETFs. These investors are reputable asset managers in the industry like Hightower Advisors and Bracebridge Capital. Notably, as of the latest data, 563 professional investment firms collectively possess $3.5 billion in Bitcoin ETFs, while projections indicate a potential increase to over 700 firms and nearly $5 billion in assets by the upcoming filing deadline.
Hougan emphasized the magnitude of professional investor involvement, highlighting the unprecedented scale compared to past ETF launches. Despite this professional interest, retail investors still hold a considerable portion of the $50 billion assets in Bitcoin ETFs. Hougan revealed a typical investment trajectory that professionals follow, indicating a potential shift towards broader institutional allocations.
Hougan expressed optimism about the future of Bitcoin ETFs, seeing the current investments as just the beginning. Notably, recent 13F disclosures indicated significant purchases of Bitcoin-related assets by institutional players like the State of Wisconsin Investment Board. As of the latest update, the price of BTC stands at $61,940.