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Asset management companies have become the "main force" of BTC spot ETFs. Who buys the most?

BlockBeats2024/05/11 09:00
By:BlockBeats
Original title: "Unveiling BTC spot ETF holding institutions: Rothschild and JPMorgan Chase can't squeeze into the top ten, who is the first? "
Original author: Fu Ruhe, Odaily Planet Daily


2024 is the first year that traditional financial capital has poured into the crypto world, thanks to the Bitcoin spot ETF issued at the beginning of the year. As of today, SoSoValue data shows that the total inflow of Bitcoin spot ETFs is US$11.67 billion, and the total net asset value is US$50.54 billion.


In the four months since its launch, the Bitcoin spot ETF has driven the highest increase in the crypto market value by 64.93%, the highest market value of US$28.45 trillion, and directly led to the highest increase in the Bitcoin market value by 59.25%.


As institutional investors continue to submit 13 F (institutional holdings report) documents to the US SEC to disclose their holdings of Bitcoin ETFs, the amazing purchasing power behind Bitcoin spot ETFs is revealed. Odaily Planet Daily sorted out the holdings of relevant companies and found that asset management companies have become the "main force" of BTC spot ETFs. As shown below:



Sina International Group (SIG) (US$1.3 billion)


Sina International Group (SIG) is a US financial services company headquartered in Belgravia, Pennsylvania. Founded in 1987, it was co-founded by Jeff Yass, Arthur Dantchik and Joel Greenberg. SIG operates globally, covering securities trading, options trading, futures trading, derivatives trading, asset management and private equity investment. SIG is known for its professional and technical performance in the financial market and is considered one of the largest quantitative trading companies in the world.


SIG purchased $1.3 billion worth of spot Bitcoin ETFs, a small portion of the company's total investment of $575.9 billion.


Ovata Capital ($74 million)


Ovata Capital is a Hong Kong-based investment management company founded in 2017. Ovata Capital's flagship product is the Ovata Equity Strategies Master Fund, which focuses on Asian equities and includes four core strategy segments: arbitrage, relative value, event-driven, and long-short.


Ovata Capital has invested heavily in US Bitcoin spot ETFs, including FBTC, GBTC, BITB and IBIT, accounting for 13.5%, 11.2%, 8.8% and 5.6% of its portfolio respectively, with a total value of more than $74 million.


Hightower ($68.34 million)


Hightower is a global wealth management company headquartered in the United States, providing comprehensive financial planning, investment management and asset management services. The company's client base includes individual investors, family offices, corporate clients and charities.


Hightower purchased US Bitcoin spot ETFs worth more than $68.34 million, which accounts for less than 0.1% of its total investment of $61.7 billion.


Rubric Capital Management ($60 million)


Rubric Capital Management is a US-based investment management company founded in 2011. The company focuses on equity investment and is known for implementing long-term value investment strategies.


Rubric Capital Management, which manages $3.3 billion in assets, owns more than $60 million of BlackRock Bitcoin Spot.


Yong Rong Asset Management ($38 million)


Yong Rong Asset Management is an asset management company headquartered in Hong Kong. The company focuses on providing clients with comprehensive investment management services covering multiple asset classes such as stocks, bonds, and derivatives.


Yong Rong Asset Management purchased approximately $38 million worth of IBIT, accounting for 12% of its portfolio and is the number one holding of BlackRock Bitcoin Spot ETF.


United Capital Management ($34.91 million)


United Capital Management is a comprehensive wealth management company headquartered in the United States. The company provides a wide range of financial planning and investment management services.


United Capital Management holds over 350,000 shares of FBTC and 410,000 shares of BITO, accounting for 4.9% and 3% of its latest portfolio, respectively, with a total value of approximately $34.91 million. Among them, United Capital Management is one of the important shareholders of Fidelity FBTC.


Legacy Wealth Asset Management ($28.5 million)


Legacy Wealth Asset Management is a comprehensive wealth management company dedicated to providing clients with comprehensive financial planning and investment management services. The company may be headquartered in the United States and has acquired Autohome.


Legacy Wealth Asset MAnagement owns over 350,000 shares of FBTC, accounting for 6.09% of its latest portfolio, and over 100,000 shares of GBTC, accounting for 1.84%, with a total value of over $28.5 million.


Monolith Management ($24 million)


Monolith Management, owned by former Sequoia China partner Cao Xi, is an investment management company focused on growth companies in public and private markets. The main investment directions are in industries such as technology, software, consumption and healthcare.


Monolith Management has more than $24 million in IBIT, ranking fifth in BlackRock ETF holdings.


IvyRock Asset Management ($19 million)


IvyRock Asset Management is a hedge fund management company headquartered in Hong Kong. The company manages various funds through its asset management business.


IvyRock Asset Management holds nearly $19 million in BlackRock's spot Bitcoin ETF IBIT.


Quattro Financial Advisors ($16.5 million)


Quattro Financial Advisors is a family office. The firm provides portfolio management, financial planning, and investment advisory services. Quattro Financial Advisors serves clients in the United States.


Quattro Financial Advisors is the second largest holder of BlackRock's Bitcoin Spot ETF, holding 468,000 shares of IBIT, worth about $16.5 million, accounting for 5.4% of its portfolio.


U.S. Bancorp ($15 million)


U.S. Bancorp is a U.S. bank holding company. It is the parent company of U.S. Bank National Association and the fifth largest bank in the United States, with more than 3,000 branches, mainly in the West and Midwest of the United States.


U.S. Bancorp disclosed investments worth more than $15 million in the spot Bitcoin ETF. It is reported that it purchased approximately 87,744 shares of Fidelity's FBTC, worth $5.4 million, 46,011 shares of Grayscale's GBTC, worth $2.9 million, and 178,567 shares of BlackRock's IBIT, worth $7.2 million. According to the latest 13 F filing, the company's total investment is $71.8 billion.


Oxler Private Wealth ($11.24 million)


Oxler Private Wealth is an investment platform. The platform only provides relevant information. Advisory services are only provided to Oxler Private Wealth LLC and its representatives who legally hold licenses or are exempt from licenses or potential clients.


Oxler Private Wealth holds 280,000 shares of IBIT, worth approximately $11.24 million, accounting for 4.4%.


Edmond de Rothschild Holding S.A ($4.2 million)


Edmond de Rothschild Holding S.A provides a variety of wealth management services to private and institutional clients.


Edmond de Rothschild (Suisse) S.A disclosed over $4.2 million worth of spot Bitcoin ETF investments. The firm reported holding 103,600 shares of BlackRock IBIT, valued at just under $4.2 million. Also disclosed 1,300 shares of GBTC, valued at $82,121. Total investments by the firm are $6 billion, according to the latest 13 F filing.


Newbridge Financial Services Group ($1.34 million)


Newbridge Financial Services Group provides a wide range of products, services and solutions to help clients achieve unique financial services.


With assets of over $340 million, Newbridge Financial Services Group holds approximately 20,000 shares of GBTC, valued at approximately $1.34 million, accounting for only 0.58% of its $230 million portfolio.


Bank of New York Mellon ($1.113 million)


Bank of New York Mellon is a bank located in New York City, USA. Its main businesses are securities services and asset management. It holds 19,918 shares of IBIT and 7,108 shares of GBTC, currently valued at approximately $1.113 million.


JP Morgan Chase Group (US$760,000)


JP Morgan Chase Group, commonly known as "JPMorgan", is an American financial institution headquartered in New York City. Its commercial banking division has 5,100 branches. In October 2011, JP Morgan Chase's assets surpassed Bank of America to become the largest financial services institution in the United States. JP Morgan Chase's business covers more than 50 countries, including investment banking, securities trading and services, investment management, commercial financial services, private banking services, etc.


JP Morgan Chase disclosed that it holds approximately US$760,000 worth of ProShares BITO, BlackRock IBIT, Fidelity FBTC, Grayscale GBTC and Bitwise BITB shares.


SouthState ($557,200)


SouthState is one of the leading regional banks in the Southeast, serving more than one million customers through more than 240 locations in Florida, Alabama, Georgia, the Carolinas and Virginia. SouthState offers a full range of banking solutions, including personal banking, mortgages, small business banking, commercial banking and wealth management.


SouthState disclosed investments in two spot bitcoin ETFs with a combined value of $577,198. SouthState's investments in spot bitcoin ETFs represent only a small portion of the $1.3 billion total reported in its filings.


BNP Paribas ($40,000)


BNP Paribas is a world-class financial group headquartered in Paris, France. It is the largest bank in France, the largest bank in the Eurozone in terms of deposits, and one of the largest banks in the world, and one of the top four systemically important financial institutions.


BNP Paribas purchased 1,030 shares of IBIT, worth only about $40,000.


Wells Fargo Group (undisclosed)


Wells Fargo Group was founded in New York, USA in 1852. It is a diversified financial group with total assets of $1.9 trillion. Wells Fargo, JPMorgan Chase, Bank of America, and Citigroup are one of the four largest banks in the United States.


According to the latest disclosure of the U.S. Securities and Exchange Commission documents, Wells Fargo has held exposure to spot Bitcoin ETFs.


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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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