Recently, with the continuous release of the 13F (Institutional Holdings Report) in the United States, the institutional positions participating in the "sweeping" of Bitcoin spot ETFs have also been exposed. So, what is the market development of Bitcoin spot ETFs? Which ETF products have the investment giants allocated to, and what investment signals have they released?
Author: Nancy, PANews
Since the gate for mainstream capital inflows into Bitcoin spot ETFs was opened, it has shown strong fundraising power in a short period of time. Recently, with the continuous release of the 13F (Institutional Holdings Report) in the United States, the institutional positions participating in the "sweeping" of Bitcoin spot ETFs have also been exposed. So, what is the market development of Bitcoin spot ETFs? Which ETF products have the investment giants allocated to, and what investment signals have they released?
Over 50 billion US dollars flowed in, with the United States occupying nearly 90% of the global market share
Looking at the market size of Bitcoin spot ETFs globally, the United States is undoubtedly the main force. According to HODL15Capital's data monitoring, as of May 7th, Bitcoin spot ETFs in the United States have held 8273.21 million BTC, worth about 52.1 billion US dollars, accounting for 89.5% of the global market.
However, in terms of the rate of fund growth, the inflow of funds into Bitcoin spot ETFs in the United States mainly came from the two months after listing, and it reached a peak of 836,000 BTC in mid-March this year, followed by a slight monthly decline trend.
Among the 11 Bitcoin spot ETFs in the United States, the top three, namely Grayscale, BlackRock, and Fidelity, have shown super strong "fundraising power," holding a total of 719,000 BTC (worth 26.91 billion US dollars), accounting for 86.9% of the overall, which is about 3.3 times that of the "Bitcoin whale" MicroStrategy. In comparison, Franklin Templeton, WisdomTree, and Hashdex have relatively weaker performances, accounting for only 8.8%.
In terms of asset size, only Grayscale and BlackRock's two Bitcoin spot ETFs have both exceeded 10 billion US dollars. Among them, Grayscale has been in a state of continuous outflow of funds since converting from GBTC to spot ETF, and it has only held 47% of the BTC quantity in January this year; BlackRock has shown a basic growth trend in the past few months, but its expansion speed has slowed down or even slightly decreased since mid-April.
In addition, as the first market to issue spot Bitcoin ETFs in Asia, as of May 7th, three Hong Kong Bitcoin spot ETFs have held a total of 42,560 BTC, with an asset management scale of 270 million US dollars, but it is only nearly 0.7% of the first day of listing of Bitcoin spot ETFs in the United States, and there has been no significant growth trend within a week of listing. It is worth mentioning that there have been recent rumors in the market that Hong Kong Bitcoin spot ETFs may be included in the Shanghai-Hong Kong Stock Connect program, but the issuer of the Hong Kong ETF has denied this, stating that it is pure rumor, just like the previous rumors that southbound funds can buy Hong Kong Bitcoin spot ETFs.
Asset management is the "main force" for subscription, and these three products have become mainstream choices
The 13F report is considered an important channel for obtaining a barometer of Wall Street investment trends. According to the regulations of the U.S. SEC, institutional equity asset managers with assets exceeding 100 million US dollars are required to disclose their current holdings of U.S. equities within 45 days after the end of each quarter (three months) and provide information on the destination of the funds. According to the disclosed information in the existing market, many institutions have listed Bitcoin spot ETFs as investment targets. For example, according to Fintel data, IBIT has 207 institutional holders and shareholders, and GBTC has 402 institutional owners and shareholders.
PANews has found that among the institutions that have purchased Bitcoin spot ETFs, asset management institutions have relatively more investment funds and a richer selection of products, but they account for a smaller proportion in their overall investment portfolios, while banks are more cautious in product selection and have limited investment funds. Among the multiple Bitcoin spot ETFs, GBTC, IBIT, and FBTC are almost the mainstream trading varieties in the market. Interestingly, three Hong Kong institutions have all invested in U.S. Bitcoin spot ETFs, which may be related to factors such as fee differences and the background of asset custodians.
Susquehanna: GBTC, FBTC, ARKB, IBIT, and BITB worth 13 billion US dollars
Quantitative trading company Susquehanna International Group disclosed in its submitted documents that it has purchased spot Bitcoin ETFs worth 13 billion US dollars, including 17.3 million shares of GBTC (worth over 11 billion US dollars), 1.3 million shares of FBTC (worth 83.7 million US dollars), 508,824 shares of ARKB (worth 36.1 million US dollars), 583,049 shares of IBIT (worth about 23.6 million US dollars), 560,832 shares of BITB (worth 21.7 million US dollars), 256,354 shares of HODL (worth 20.6 million US dollars), 255,814 shares of BTCW (worth 19.3 million US dollars), 166,200 shares of BTCO (worth 11.8 million US dollars), and 192,391 shares of BRRR (worth 3.9 million US dollars). These combined investments account for only a small part of the company's total investment of 575.9 billion US dollars.
Ovata Capital Management: FBTC, GBTC, BITB, and IBIT worth over 74 million US dollars
The latest filing submitted by Hong Kong asset management company Ovata Capital Management to the U.S. SEC shows that it has heavily invested in U.S. Bitcoin spot ETFs, including FBTC, GBTC, BITB, and IBIT, accounting for 13.5%, 11.2%, 8.8%, and 5.6% of its investment portfolio, with a total value of over 74 million US dollars.
Hightower: GBTC, FBTC, IBIT, ARKB, BITB, and EZBC worth over 68 million US dollars
Asset management company Hightower, with assets under management of 130 billion US dollars, disclosed in an SEC filing that it has purchased over 68.34 million US dollars worth of U.S. Bitcoin spot ETFs, including 44.84 million US dollars of Grayscale GBTC, 12.41 million US dollars of Fidelity FBTC, 7.62 million US dollars of IBIT, 1.7 million US dollars of ARKB, 990,000 US dollars of BITB, and 790,000 US dollars of EZBC. However, this portion of the investment accounts for less than 0.1% of its total investment of 61.7 billion US dollars.
Yong Rong Asset Management: IBIT worth about 38 million US dollars
Hong Kong-based Yong Rong Asset Management has purchased about 38 million US dollars worth of IBIT, accounting for 12% of its investment portfolio, making it the top holder of BlackRock's Bitcoin spot ETF. Yong Rong (Hong Kong) Asset Management Limited is a securities investment and asset management company established in 2012, with several funds under its management, with assets under management totaling hundreds of millions of US dollars. In addition to Bitcoin spot ETFs, the institution's latest investment portfolio also includes Nvidia, Tesla, Meta, Pinduoduo, and Luckin, among others.
United Capital Management: FBTC and BITO worth over 34.9 million US dollars
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 investment portfolio, with a total value of about 34.91 million US dollars. United Capital Management is an important shareholder of Fidelity FBTC.
United Capital Management is an investment advisory firm based in the United States, which was sold to Creative Planning, one of the largest private investment advisory firms in the United States, with investment assets exceeding 436 million US dollars.
Legacy Wealth Asset Management: FBTC and GBTC worth over 28.5 million US dollars
Asset management company Legacy Wealth Asset Management holds over 350,000 shares of FBTC, accounting for 6.09% of its latest investment portfolio, and over 100,000 shares of GBTC, accounting for 1.84%, with a total value of over 28.5 million US dollars. Legacy Wealth Asset Management is also one of the major shareholders of Fidelity FBTC.
Monolith Management: IBIT worth over 24 million US dollars
Monolith Management, an investment company owned by former Sequoia China partner Cao Xi, revealed in a document that it holds over 24 million US dollars worth of IBIT, ranking fifth in BlackRock's ETF holdings, more than double its investment in Meta stocks. In addition, the company's two largest investments are Nvidia and Microsoft.
Monolith Management is headquartered in Hong Kong and was jointly established by former Sequoia China partner Cao Xi and former Boyu Capital secondary market partner Tim Wang. The scale of its first fund has exceeded 500 million US dollars, focusing mainly on technology and innovation-driven technology, software, life sciences, and consumer sectors.
IvyRock Asset Management: IBIT worth 19 million US dollars
IvyRock Asset Management is a hedge fund management company headquartered in Hong Kong, which disclosed in its latest filing that it holds nearly 19 million US dollars worth of BlackRock's spot Bitcoin ETF, IBIT.
Quattro Financial Advisors: IBIT worth over 16.5 million US dollars
Quattro Financial Advisors is a multi-family office and the second largest holder of BlackRock's Bitcoin spot ETF, holding 468,000 shares of IBIT, worth approximately 16.5 million US dollars, accounting for 5.4% of its investment portfolio.
Oxler Private Wealth: IBIT worth over 11.2 million US dollars
Investment platform Oxler Private Wealth holds 280,000 shares of IBIT in its latest investment portfolio, worth approximately 11.24 million US dollars, accounting for 4.4%.
Newbridge Financial Services Group: GBTC worth approximately 1.34 million US dollars
Newbridge Financial Services Group, with assets under management exceeding 340 million US dollars, holds approximately 20,000 shares of GBTC, worth approximately 1.34 million US dollars, accounting for 0.58% of its 230 million US dollar investment portfolio.
BNY Mellon: GBTC worth approximately 1.11 million US dollars
BNY Mellon, the oldest bank in the United States, reported in its SEC filing that it holds 19,918 shares of IBIT and 7,108 shares of GBTC, currently worth approximately 1.113 million US dollars.
SouthState Bank: GBTC and IBIT worth over 570,000 US dollars
SouthState Bank disclosed its investment in two spot Bitcoin ETFs in its SEC 13F filing, with a total value of 577,198 US dollars, including 6,606 shares of GBTC (worth approximately 417,301 US dollars) and 3,951 shares of IBIT (worth approximately 159,897 US dollars). SouthState Bank's investment in spot Bitcoin ETFs accounts for only a small portion of its total reported 1.3 billion US dollars.
It is understood that SouthState Bank is a bank holding company based in the United States, and after merging with CenterState Bank, the total assets managed by these two entities reached 34 billion US dollars.
BNP Paribas: IBIT worth approximately 40,000 US dollars
BNP Paribas, the second largest bank in Europe, with total assets under management exceeding 600 billion US dollars, disclosed in its recent 13F filing with the U.S. Securities and Exchange Commission that it holds 1,030 shares of IBIT, worth approximately 40,000 US dollars. BNP Paribas has been actively exploring the crypto field since last year, not only providing cryptocurrency services but also participating in related investments, such as traditional financial asset tokenization company Fnality.
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。
