Quick
Take

The

13F
filings
for

Bitcoin
exchange-traded
funds
(ETFs)
in
the
first
quarter
of
2024
have
unveiled
a
significant
surge
in
demand
and
investor
interest.

According
to

Eric
Balchunas,
a
senior
ETF
analyst
at
Bloomberg,
BlackRock’s
(IBIT)
had
an
astounding
414
reported
holders
in
its
inaugural
13F
season.
Balchunas
noted
that

 

“Even
having
20
holders
as
a
newborn
is
bfd,
highly
rare.”

Fidelity’s
FBTC,
Bitwise’s
BITB,
and
Ark’s
ARKB
have
also
garnered
substantial
investment,
contributing
to
their
notable
success.

Across
nearly
1,500
entries,
929
institutions
own
at
least
one
Bitcoin
ETF,
and
the
top
owner
was
Millenium
Management,
with
$1.9
billion
in
long
positions
across
the
ETFs,
according
to
a
pseudonymous
Bitcoin
analyst,

Trader
T.

The
filings
showed
that
44%
of
reported
institutions
own
IBIT,
making
it
the
most
popular
choice
among
international
investors.
Additionally,
65%
own
the
Grayscale
Bitcoin
Trust
(GBTC),
and
99%
of
the
institutions
are
based
in
the
US,
with

Hong
Kong-based
firms
coming
in
second.