• Reporter: Wu Tianyi
• Produced by: DeThings

On May 7th, according to The Block, Monolith Management, an investment company owned by former Sequoia China partner Cao Xi, revealed in a document that it holds over $24 million worth of BlackRock's spot Bitcoin ETF (stock code IBIT). The Hong Kong-based company not only ranks fifth in terms of holdings in BlackRock ETF, but also holds over twice the position in Meta stock. Additionally, the company's two largest investments are in Nvidia and Microsoft.

Currently, asset management institutions in the United States, Hong Kong, and Europe are entering the Bitcoin ETF market.

According to watcher.guru, asset management companies based in Hong Kong have purchased $112 million worth of US spot Bitcoin ETFs. Specifically, data shows that Wing Lung Asset Management purchased $38 million worth of the Belad iShares Bitcoin Trust (IBIT).

Similarly, documents from Ovata Capital Management, also based in Hong Kong, show investments in four other spot Bitcoin ETFs worth over $74 million.

The documents show that both Wing Lung Asset Management and Ovata Capital Management made significant investments in US Bitcoin ETFs. The former purchased $38 million worth of IBIT from BlackRock. According to undisclosed documents, this accounts for 12% of its holdings.

In addition, Ovata holds four spot Bitcoin ETFs worth $74 million. Furthermore, these four investment products are from issuers Fidelity, Grayscale, Bitwise, and BlackRock.

Another Hong Kong-based fund, IvyRock Asset Management, reported on Tuesday that it holds nearly $19 million worth of BlackRock's spot Bitcoin ETF.

It is worth mentioning that the timing of these Hong Kong companies' investments in US Bitcoin ETFs came after the approval of virtual asset ETFs in Hong Kong.

Moreover, the presence of "Old Money" from Europe has begun to appear in Bitcoin ETF trading.

According to CryptoSlate, French banking giant BNP Paribas revealed that it has started purchasing shares of BlackRock's iShares Bitcoin Trust (IBIT) and currently holds a small amount of Bitcoin exposure through ETFs. By assets, the bank is the second largest in Europe and the ninth largest globally as of 2022.

The company's latest 13F filing (dated May 1) shows that the bank holds 1,030 shares of IBIT, valued at $41,684.

BNP Paribas' investment in IBIT accounts for only a small portion of its total investments, with the latest filing reporting its total investment at $113.8 billion.

In the United States, according to CryptoSlate, quantitative trading firm Susquehanna International Group is one of the largest companies currently investing in spot Bitcoin ETFs, holding a total of $1.3 billion in Bitcoin ETFs. The company describes itself as one of the world's largest proprietary trading firms, with estimated assets under management (AUM) of $481 billion.

In its filing with the SEC, it disclosed investments in spot Bitcoin ETFs, holding 17.3 million shares of Grayscale's GBTC through three separate investments, with a total investment of $1.1 billion. Susquehanna also purchased 1.3 million shares of Fidelity FBTC, valued at $83.7 million, 583,049 shares of BlackRock IBIT, valued at $23.6 million, 560,832 shares of Bitwise BITB, valued at $21.7 million, and 508,824 shares of Ark 21Shares ARKB, valued at $36.1 million. It also purchased 256,354 shares of VanEck HODL, valued at $20.6 million, 255,814 shares of WisdomTree BTCW, valued at $19.3 million, 166,200 shares of Invesco BTCO, valued at $11.8 million, and 192,391 shares of Valkyrie BRRR, valued at $3.9 million. These combined investments account for only a small portion of the company's latest 13F report of $575.9 billion in total investments.

Hightower Advisors and SouthState Bank, BNP Paribas, and Burkett Financial Services reported similar investments in spot Bitcoin ETFs in their 13F filings. Legacy Wealth Asset Management and several other companies also reported investments.

Bloomberg's ETF senior analyst Eric Balchunas stated that institutional investors have been buying Bitcoin ETFs, with Legacy Wealth Asset Management and United Capital Management of Kansas Inc. investing slightly over $20 million in the Fidelity Wise Origin Bitcoin Fund (FBTC), accounting for 6% and 5% of their portfolios, respectively.

Members of BlackRock and Bitwise predict that institutions will continue to invest in spot Bitcoin ETFs, and this trend is supported by the latest disclosures.

The 13F filings for this quarter only disclose purchases made before March 31, meaning that recent purchases may not have been disclosed yet.

Additionally, CNBC reports that the highly active market surrounding these funds may indicate that retail traders are using ETFs to participate in the rise of Bitcoin, with large intraday trading volumes suggesting that retail traders are a significant group buying and selling the funds.

Robert Mitchnick, head of digital assets at BlackRock, stated in a declaration to Coindesk on May 2 that financial institutions, including pension funds, endowments, sovereign wealth funds, insurance companies, asset management firms, and family offices, may start investing in spot Bitcoin ETFs.

However, some institutions are not interested in Bitcoin ETFs. According to CoinDesk, Vanguard Group, one of the world's largest asset management companies, will not allow clients to purchase newly approved Bitcoin ETFs. "The Vanguard platform will not be able to purchase spot Bitcoin ETFs, and there are no plans to offer Vanguard Bitcoin ETFs or other crypto-related products," a Vanguard spokesperson stated. The reason behind this decision is that cryptocurrency-related products do not align with the asset categories the asset management company focuses on for "building balanced, long-term investment portfolios."

As of May 7, the total assets managed by spot Bitcoin ETFs amount to $52 billion, with $11.7 billion in inflows as of May 6.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。