fromcrypto – Goldman Sachs and Morgan Stanley invested greater than $600 million in spot exchange-traded funds (ETFs) throughout the second quarter of 2024, in line with regulatory filings printed on Wednesday.
The submitting, often called a 13-F, offers perception into the positions held by institutional buyers on the finish of every quarter.
Goldman Sachs introduced that it has raised roughly $418 million in numerous Bitcoin ETFs. The majority of that funding was in BlackRock's (NYSE: ) iShares Bitcoin Belief (NASDAQ: ), with almost 7 million shares price about $238 million as of June 30.
IBIT is the biggest spot Bitcoin ETF by market capitalization with $20 billion in belongings beneath administration.
The financial institution additionally held stakes within the Constancy Clever Origin Bitcoin ETF, the Invesco Galaxy Bitcoin ETF (NYSE: ) and smaller positions in different bitcoin ETFs launched earlier within the yr.
Morgan Stanley additionally favored BlackRock's spot bitcoin exchange-traded fund (ETF). As of June 30, the funding financial institution held over 5.5 million shares of the iShares bitcoin belief, price almost $188 million, making it one of many ETF's 5 largest shareholders.
Morgan Stanley had smaller stakes in ARK 21Shares Bitcoin ETF (NYSE: ) and Grayscale Bitcoin Belief (NYSE: ). Notably, the financial institution made an enormous minimize in its GBTC holdings, bringing it all the way down to about $148,000 from $269.9 million final quarter, in line with its newest submitting.
Neither Goldman Sachs nor Morgan Stanley disclosed whether or not these positions have been taken on behalf of purchasers or for their very own accounts.
Whereas these filings point out rising institutional curiosity in Bitcoin ETFs, regulated crypto merchandise are primarily dominated by retail buyers, in line with ETF issuers.
A number of hedge funds modified their holdings of bitcoin ETFs throughout the quarter. New York-based Looking Hill World Capital decreased its publicity to Grayscale and Constancy ETFs, however held a $18.32 million stake within the Bitwise Bitcoin ETF (NYSE: ) and took a brand new $25.6 million place in BlackRock's ETF.
Millennium Administration LLC, one other New York-based hedge fund, minimize its complete bitcoin ETF holdings from $2 billion within the first quarter to $1.15 billion by the top of June, whereas rising its holdings within the Bitwise ETF.
