Breaking: NYC Firm Becomes Top Holder In BlackRock, Fidelity, Bitwise, GBTC Bitcoin ETF

As a researcher with a background in finance and experience in analyzing market trends, I find Boothbay Fund Management’s recent move to become one of the largest holders in various Bitcoin ETFs quite intriguing. The $377 million investment in spot Bitcoin ETFs, including BlackRock iShares Bitcoin ETF (IBIT), Fidelity Wise Origin Bitcoin ETF (FBTC), and Bitwise Bitcoin ETF (BITB), is a significant development that could indicate growing institutional interest in Bitcoin as an asset class.

According to a SEC filing on May 15th, Boothbay Fund Management based in New York City is now the largest shareholder in the BlackRock iShares Bitcoin ETF (IBIT), Fidelity Wise Origin Bitcoin ETF (FBTC), and Bitwise Bitcoin ETF (BITB). In simpler terms, Boothbay Fund Management holds the greatest percentage of shares in these three Bitcoin ETFs as reported to the SEC.

As an analyst, I can share that my fund has amassed a substantial position in Grayscale’s GBTC Bitcoin ETF, with an investment exceeding $69 million.

Boothbay Fund Management Pours $377 Million in Bitcoin ETFs

In a filing with the U.S. Securities and Exchange Commission (SEC), Boothbay Fund Management disclosed over $377 million worth of investments in Bitcoin spot ETFs.

I discovered that Boothbay Fund Management has invested a substantial amount of $149.80 million in BlackRock’s iShares Bitcoin ETF, making them the current largest holders of IBIT with this investment. Following closely are Bracebridge Capital LLC and the State of Wisconsin Investment Board, each holding investments worth $100 million and $99 million respectively.

Boothbay holds the largest stake in the Fidelity Wise Origin Bitcoin ETF (FBTC), having invested approximately $105.5 million to acquire around 1.7 million shares. Following closely are Pine Ridge Advisers and Susquehanna International Group, with investments of $93 million and $83 million respectively, in the IBIT.

The company has revealed ownership of Bitwise Bitcoin ETF (BITB) and GBTC. Specifically, it owns approximately $52.25 million in BITB, making it the largest shareholder in this particular ETF. Additionally, it purchased 1,100,000 shares in GBTC, valued at around $69.48 million. Presently, it ranks as the fifth-largest investor in GBTC.

As a researcher studying Boothbay Fund Management’s investment portfolio, I’ve observed that BlackRock, Fidelity, and GBTC are among the top three holdings in terms of Bitcoin Exchange-Traded Funds (ETFs). The firm has also engaged in significant trades involving Coinbase, MicroStrategy, and Robinhood Markets shares, as disclosed in their Securities and Exchange Commission (SEC) filing.

Breaking: NYC Firm Becomes Top Holder In BlackRock, Fidelity, Bitwise, GBTC Bitcoin ETF


Bitcoin Price Recovers Amid Cooling CPI and Bitcoin ETF Inflow

This week, U.S. Spot Bitcoin exchange-traded funds (ETFs) have gotten off to a favorable start, with the positive trend persisting. Of particular note is the fact that in just the first two business days of the week, over $170 million has flowed into the U.S. Spot Bitcoin ETF. Following three consecutive weeks of outflows.

On May 14, there was a $100 million surge in investments towards U.S.-listed Spot Bitcoin Exchange-Traded Funds (ETFs), sparking renewed enthusiasm among traders for the cryptocurrency market.

The cost of a bitcoin reached an astounding $65,000 following the release of the Consumer Price Index (CPI) report showing a moderate increase of 3.4%. This encouraging news has eased investors’ concerns slightly, as it decreases the likelihood of immediate interest rate hikes from the Federal Reserve, potentially leading to rate reductions starting in September.

In recent days, there’s been a significant increase in cryptocurrency trading volumes. This surge can be attributed to the purchasing of large amounts of crypto by “whales” and the disclosed investments in Bitcoin ETFs by hedge funds and financial managers.

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2024-05-15 19:40