ETFs
Vanguard, BlackRock Increase MSTR Holdings, While TradFi Firms Continue to Disclose Bitcoin ETF Investments
Avant-garde and black rock increased their stakes in MicroStrategy holdings (MSTR) on May 10.
Vanguard holds 1.6 million shares of MSTR worth $2.6 billion at the end of the first quarter, up from 1.2 million shares worth $727.6 million at the end of December 2023 .
BlackRock now owns 1.2 million shares worth $2.1 billion, up from 1.0 million shares worth $646.4 million at the end of last quarter.
Many other companies have also invested in MSTR, which provides exposure to Bitcoin through its own Bitcoin investments. Fintel data indicates that at least 750 companies have invested in MSTR.
MicroStrategy itself has taken steps to increase its Bitcoin holdings. The company declared having purchased $1.65 billion worth of BTC in the first quarter, bringing its total holdings to 214,400 BTC. The company maintains its position as the publicly traded company with the most Bitcoin.
Other Bitcoin ETF deposits
Meanwhile, 13F disclosures continue to reveal TradFi’s growing investments in spot Bitcoin ETFs.
Swiss bank UBS invested $145,692 in BlackRock I BITE on May 13. Other Global Systemically Important Banks (G-SIBS), including JP Morgan, Wells FargoAnd BNP Paribas also reported spot investments in Bitcoin ETFs during the first quarter.
Wolverine Asset Management, an alternative investment firm, revealed that it is one of the largest holders of Fidelity’s FBTC, with $54 million invested in the ETF during the first quarter. Meanwhile, fintech firm Envestnet reported a $62 million investment in spot Bitcoin ETFs including FBTC, GBTC, ARKB, IBIT and BITB.
Crypto and blockchain investment company Multi-room capital announced an $83.5 million investment in Grayscale’s GBTC. The only other investment declared by Multicoin 13F is in Coinbase (PIECE OF MONEY), worth $217 million, for a total of $300 million in its latest 13F filing.
This investment places Multicoin Capital among the largest holders of GBTC. In previous files, Susquehanna International Group and Horizon Kinetics Asset Management announced larger investments, amounting to $1.1 billion and $540 million, respectively.
Spot Bitcoin ETFs collectively reported $52.4 billion in assets under management (AUM) as of May 13 and $11.7 billion in cumulative inflows as of May 10.