ETFs

$130B Asset Manager Hightower Buys $68M Spot Bitcoin ETF

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12 months ago

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In the latest high-profile Bitcoin transaction, $130 billion asset manager Hightower revealed it purchased $68 million worth of Spot Bitcoin ETF. Today, Hightower disclosed the following Bitcoin ETF positions in a 13F SEC Filing:

  • Grayscale BTC: $44,838,000 (709,956 shares)
  • Fidelity Bitcoin ETF: $12,410,000 (200,084 shares)
  • BlackRock Bitcoin ETF: $7,621,000 (188,397 shares)
  • ARK Bitcoin ETF: $1,702,000 (23,964 shares)
  • Bitwise Bitcoin ETF: $988,000 (25,449 shares)
  • Franklin Templeton Bitcoin ETF: $788,000 (19,129 shares)

The diverse set of investments in Bitcoin ETFs is an interesting note, but it nonetheless only adds to the optimism for the world’s leading cryptocurrency. Hightower Advisors is one of the nation’s leading RIA firms. The firm helps grow financial advisory businesses and connect clients with financial advisors.

Hightower becomes latest big-name investor in Bitcoin ETFs

The success of Spot Bitcoin ETFs is undeniable. Since the SEC’s approval in January 2024, the ETF market has been taken over by Bitcoin, and the asset since the beginning of the year has reached all-time highs. Investors looking for new options to invest their money in have turned to BTC as a significant player in stock trading. Additionally, with the help of Spot Bitcoin ETFs from Grayscale, BlackRock, and other options, the asset has become a household name across the country.

Also Read: Hong Kong Bitcoin ETFs Expected to Reach $1 Billion in Assets Under Management in 2024

There is no clear reason why Hightower split its Spot Bitcoin ETF investments the way they did, however, the discrepancy remains huge news. This investment in BTC ETFs only sparks interest from other asset management companies in Bitcoin and exchange-traded funds. Additionally, trillions of dollars have been invested in these assets over the past few months, and the train shows no signs of slowing down.

Hightower has yet to publicly comment on its decision to invest $68 million in Spot Bitcoin ETFs.



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