Bitwise CEO Optimistically Expects Increased Bitcoin ETF Holdings by Wealth Management Companies
ETF issuer Bitwise CEO Hunter Horsley optimistically predicts that by the end of 2024, many wealth management companies will increase their holdings of Bitcoin ETF. These individuals are intelligent and well-informed, and they will become increasingly confident in Bitcoin and will only go long.
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Many companies are quietly buying Bitcoin ETF
13F reports reveal minimal holdings
Horsley’s post was made after the fourth Bitcoin halving. Prior to the Bitcoin halving, the spot ETF had ended a five-day net outflow since the 12th, with a total net inflow of $59.56 million on April 19. The price of Bitcoin did not fluctuate significantly after the halving, fluctuating in the range of 63K to 65K.
Horsley previously mentioned that registered investment advisors (RIA) and family offices are thoroughly evaluating the Bitcoin market and making purchases, but it seems that few people are openly discussing this.
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He optimistically predicts that by the end of 2024, many wealth management companies will increase their holdings of Bitcoin ETF. He also states that these individuals are intelligent and well-informed, and they will become increasingly confident in Bitcoin and will only go long.
However, according to Bloomberg ETF analyst Eric Balchunas’ latest statistics, so far, only about 60 institutions, mainly funds and advisory firms, have bought BlackRock’s IBIT, accounting for only 0.4% of IBIT’s total shares. The largest proportion is Quattro Advisors, headquartered in Pittsburgh, which bought a total of $19 million worth of IBIT by the end of March, making IBIT its third-largest holding at 5%.
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Institutional investors have not flocked to Bitcoin, 13F reports reveal only 30 funds and advisors buying IBIT
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Since the US Bitcoin spot ETF was officially launched on January 11th this year, and the first 13F report was calculated until the end of March, with a deadline in mid-May. This may indicate that the Bitcoin spot ETF is mostly held by retail investors, or institutional investors are still testing the waters.
13F report
Bitwise
Hunter Horsley
Bitcoin ETF
Further reading
Crypto venture capital Paradigm supports prediction market Kalshi: Prediction platforms can help companies hedge risks
Bitwise announces Bitcoin spot ETF (BITB) wallet address, immediately receives 6969 sats
