Investments in spot Bitcoin ETFs.
According to Form 13F, Wolverine Asset Management and Envestnet invested over $96 million in Fidelity's Bitcoin ETF.
In addition, Envestnet invested more than $19 million in bitcoin funds from Grayscale, ARK Invest, BlackRock, and Bitwise.
The Bank of Montreal, which manages assets of $333 billion, also invested over $6.5 million in shares of Bitcoin ETFs.