According to TechFlow, Farallon Capital, Farallon Capital Management, Cetera Investment Advisers and BigSur Wealth Management reported that they invested millions of dollars in spot Bitcoin ETFs in the first quarter.
On May 24, San Francisco hedge fund manager Farallon Capital disclosed an $85.2 million investment in Grayscale’s GBTC. According to Fintel data, the company is one of the 10 largest GBTC holdings.
Independent wealth center Cetera Investment Advisers disclosed an investment of $22.6 million in GBTC on May 24, becoming one of the 25 companies with the largest GBTC positions.
On May 22, BigSur Wealth Management disclosed a $3.3 million investment in BlackRock’s IBIT, becoming one of IBIT’s top 80 investments.
None of these firms disclosed their holdings in other spot bitcoin ETFs. However, Cetera Investment Advisers disclosed that its holdings in the ProShares Bitcoin Strategy ETF (BITO) increased by 83% from the previous quarter.