Jaffe
Tilchin
Investment
Partners
was
one
of
several
firms
that
disclosed
investments
in
spot
Bitcoin
ETFs
on
May
16.
The
Florida-based
investment
manager
and
insurance
services
advisor
revealed
it
invested
$11.3
million
in
spot
Bitcoin
ETFs
during
the
first
quarter
—
comprising
$9.8
million
in
BlackRock’s
IBIT
and
$1.6
million
in
Grayscale’s
GBTC.
Separately,
Nebraska-based
investment
advisor
WealthPlan
disclosed
a
$2.2
million
investment
in
GBTC,
while
Skyview,
a
New
Jersey-based
investment
advisor,
disclosed
a
$1.3
million
investment
in
GBTC.
Texas-based
Comerica
Bank
reported
$647,000
invested
across
four
funds,
including
$361,395
in
GBTC,
$225,013
in
IBIT,
$33,219
in
Ark’s
ARKB,
and
$28,051
in
Fidelity’s
FBTC.
Nearly
1,000
firms
invested
The
disclosures
follow
investments
from
other
notable
firms,
including
large
holders
such
as
Millenium
Management
and
Schonfield
Strategic
Advisors,
as
well
as
major
global
banks
such
as
Morgan
Stanley,
JP
Morgan
Chase,
Wells
Fargo,
BNP
Paribas,
and
UBS.
Overall,
nearly
1000
firms
have
invested
in
spot
Bitcoin
ETFs
since
their
launch
in
January.
K33
Research
senior
analyst
Vetle
Lunde
reported
that
937
professional
firms
had
invested
more
than
$11
billion
in
US
spot
Bitcoin
ETFs
during
the
first
quarter.
Bloomberg
ETF
analyst
Eric
Balchunas
posted
a
similar
estimate,
stating
that
929
institutions
owned
at
least
one
spot
Bitcoin
ETF
—
with
414
investors
owning
BlackRock’s
IBIT.
The
SEC
approved
spot
Bitcoin
ETFs
in
January,
making
the
first
quarter
the
first
time
investors
could
purchase
spot
Bitcoin
ETFs.
The
exception
is
GBTC,
which
was
available
before
its
conversion
to
an
ETF.
Mentioned
in
this
article
Go to Source
Author: Mike Dalton
