As a researcher with a background in finance and a keen interest in the crypto market, I find the recent disclosures from corporations regarding their Bitcoin ETF holdings to be an intriguing development. The unexpected announcements from top American banks like Morgan Stanley and Wells Fargo, as well as firms from Hong Kong and around the world, have sent shockwaves through the crypto ecosystem.
Over the past few weeks, the revelations from corporations about their Bitcoin ETF investments have been a significant development in the market. Surprisingly, several companies disclosed that they had invested in this new asset class, leaving many in the crypto community in awe.
Top American banking giants such as Morgan Stanley and Wells Fargo made headlines with their surprising Bitcoin disclosures. Meanwhile, financial institutions from Hong Kong and other parts of the globe similarly revealed their involvement in Bitcoin.
Spot Bitcoin ETF By Country Holdings
Based on information provided by Bitcoin ETF tracker Julian Fahrer in an recent update, a dozen countries were represented among the initial group of Form 13-F filers. Notably, the United States topped the list with a grand total of 898 investors holding approximately $9.27 billion worth of assets across various issuers.
In addition to Morgan Stanley and Wells Fargo, other prominent firms that acquired the product are Susquehanna International Group (SIG) and Boothbay Fund Management. It’s worth mentioning that Boothbay Fund Management invested approximately $377 million into Bitcoin ETF shares offered by BlackRock, Grayscale, Fidelity, and Bitwise.
As an analyst, I’ve discovered that Hong Kong claimed the second position among the top investors in the new asset class, with a total of 15 entities contributing $210,932,900. Notably, Channel Island Jersey follows closely with 10 issuers managing a combined portfolio worth $58,250,960. Canada ranks fourth on our list, as seven holders have invested $54,888,250 into Bitcoin ETF products.
As a researcher studying global investments, I’ve come across some intriguing data. The Cayman Islands, Israel, and Switzerland each contributed significant amounts: the Cayman Islands with $16,906,250, Israel with $14,359,970, and Switzerland with $8,286,923. Additionally, there are five other nations, namely Puerto Rico, United Kingdom, Australia, The Netherlands, and France, each investing a single holder with a total of $18,855,103.
Market Impact of Spot BTC ETF
Introducing vast amounts of money into the Bitcoin ETF market through injection causes an increase in market liquidity. Consequently, a large quantity of Bitcoins is removed from circulation. The resulting scarcity significantly influences the asset’s price, driving it up.
In Q1, the price of Bitcoin reached an all-time high of $73,750.07 after significant buying in Bitcoin ETFs had an effect. Although Bitcoin’s price has since dropped, there is optimism that a major bullish turnaround will occur.
At the time of writing, the coin is changing hands for $66,843.05, up by 2.2% in 24 hours.
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2024-05-18 01:06