Key Points:
Boothbay Fund Management disclosed $5.2 billion in Bitcoin ETF holdings, becoming the largest shareholder in BlackRock's Bitcoin ETF.
Boothbay Bitcoin ETF investments include $149.8 million in BlackRock’s Bitcoin ETF, $105.5 million in Fidelity’s Bitcoin ETF, and $69.5 million in Grayscale Bitcoin Trust.
Boothbay's significant cryptocurrency investments highlight growing institutional adoption and positive market sentiment.
In a recent SEC filing, Boothbay Fund Management, one of the largest US-based fund companies, disclosed substantial investments in several Bitcoin ETFs, emphasizing the growing institutional interest in cryptocurrency assets.
Boothbay Bitcoin ETF Investment Overweights BlackRock, Fidelity, and Grayscale Bitcoin ETFs
The 13F form, a quarterly requirement for large investment firms to ensure transparency in financial markets, revealed Boothbay's significant positions in BlackRock, Fidelity, Grayscale, and Bitwise Bitcoin ETFs.
Boothbay Bitcoin ETF investment amounts to a staggering $5.2 billion. The firm holds 3,701,600 shares of BlackRock’s iShares Bitcoin ETF, valued at approximately $149.8 million, making it the largest shareholder in this ETF. Additionally, Boothbay owns 1.7 million shares of Fidelity’s Wise Origin Bitcoin ETF, worth about $105.5 million, also positioning it as the top holder.
The firm's other notable holdings include $69.5 million in Grayscale Bitcoin Trust (GBTC) and over $52 million in Bitwise Bitcoin ETF, further solidifying Boothbay's dominant presence in the Bitcoin ETF market. Beyond Boothbay Bitcoin ETF investment, the company's portfolio encompasses diverse ETFs, such as the SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF.
Institutional Adoption Drives Positive Market Sentiment
The disclosed positions reflect only a portion of Boothbay's total Assets Under Management (AUM), indicating that the firm’s actual investments are even more extensive. The detailed SEC filings also revealed Boothbay's trading activity in shares of companies like Coinbase, MicroStrategy, and Robinhood Markets, illustrating a broader engagement with the cryptocurrency sector.
This substantial investment in Bitcoin ETFs by Boothbay and other major hedge funds underscores a growing trend of institutional adoption of digital assets, contributing to positive market sentiment. The influx of capital into these ETFs is expected to continue driving market momentum in the coming weeks. As Coincu reported, the Wisconsin Investment Council, Bank of Montreal and JPMorgan also recently revealed their Bitcoin ETF investments.
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