Suzanne McGee
(Reuters) – Asset managers from asset management companies to hedge funds and pension funds helped to allocate to the US exchange trade funds tied to the price of Bitcoin in the fourth quarter of 2024. %, according to recent regulatory submissions.
The Wisconsin Investment Commission has more than doubled its Bitcoin ETF holdings in the last three months of last year, reaching 6 million shares in the iShares Bitcoin Trust ETF by December 31st. was disclosed in quarterly 13-F applications. . The fund, the first fund to report an investment in Crypto after the debut of Bitcoin ETF, was not immediately contacted for comment.
Other large investment funds also supported holdings of ETFS, which was launched in January 2024.
Tudor Investment Corp, a systematic hedge fund manager, reported holdings of iShares ETFs (now the largest pack with assets of over $55 billion, rising from 4.4 million to 8 million shares. The value of these holdings also skyrocketed, reflecting a jump in Bitcoin’s value, reaching $426.9 million from $159.9 million at the end of September. Tudor responded to requests for comment immediately. Not there.
Mubadala Investment Co, a sovereign wealth fund in Abu Dhabi, reported its first foray into the Bitcoin ETF in the fourth quarter, acquiring 8.2 million shares in ISHARES ETF, worth $436.9 million.
Hedge fund Hunting Hill Capital was not exposed to these ETFs as of the end of the third quarter, but reappeared as a key investor by December 31, with roughly 131 million by the end of the year. There was a dollar position.
“We have been actively trading within the broader crypto ETF complex. The timing of third quarter submissions may not match when we purchase and sell different ETFs.”
The ranks of those added to the position included financial advisory firms whose clients were enthusiastic buyers of Bitcoin ETFs. Cetera Advisors and NewEdge Advisers were among the companies that helped to boost holdings in several ETFs, including products offered by Fidelity, Ark Investments and Invesco.
Other investors were more selective, the application said. Cresset Asset Management has boosted exposure to lower fee ETFs, said Jack Ablin, the company’s chief investment officer.
“It’s also possible to get the pricing of attractive options for collar strategies right now. With these Bitcoin funds, you can protect your shortcomings while reducing the rise in exchange,” Ablin said. I did.
