Farallon Capital discloses $85 million in GBTC, Cetera discloses $22 million in #gbtc

Farallon Capital Management, Cetera Investment Advisers, & BigSur Wealth Management have made substantial multi-million dollar investments in spot #BitcoinETFs in the first quarter.

Farallon Capital, a San Francisco-based hedge fund manager, disclosed an $85.2 million investment in Grayscale’s GBTC on May 24. According to Fintel data, Farallon Capital is now among the top 10 firms with the largest GBTC holdings.

Cetera Investment Advisers, an independent wealth hub, revealed a $22.6 million investment in GBTC on May 24, ranking it among the top 25 firms in terms of GBTC positions.

BigSur Wealth Management disclosed a $3.3 million investment in #BlackRock ’s IBIT on May 22, placing it among the top 80 firms with the largest IBIT investments.

While none of these companies disclosed positions in other spot Bitcoin ETFs, Cetera Investment Advisers did report an 83% increase in its holdings of the ProShares Bitcoin Strategy ETF (BITO) compared to the previous quarter.

First Quarter of Spot BTC ETFs

- These latest filings, despite being submitted later, detail investments made during the first quarter & contribute to the industry's overall totals for that period.

- Just before the May 15 filing deadline, Bitwise CIO Matt Hougan estimated that 563 professional investment firms had disclosed $3.5 billion in spot Bitcoin ETF holdings. On May 15, pseudonymous analyst Trader T reported that 929 institutions had invested in at least one spot Bitcoin ETF.

- Major global banks, including #JPMorgan Chase, Wells Fargo, BNP Paribas, Morgan Stanley, & BNY Mellon, have all invested in spot Bitcoin ETFs.

- Susquehanna, Horizon Kinetics, & Morgan Stanley hold the largest GBTC positions, while Millennium & Schonfeld Strategic Advisors have the largest IBIT positions.

- The crypto sector is now looking forward to the launch of spot Ethereum ETFs following the approval of 19-b4 filings on May 23. JP Morgan anticipates that these funds will launch before November.

Source - cryptoslate.com