Wall Street and Major US Banks Embrace Bitcoin ETFs, SEC Data Shows

Key Points:

  • Wall Street and US banks show growing confidence in Bitcoin, investing in various ETFs as per SEC filings.
  • Strategic investments across multiple Bitcoin ETFs hint at robust institutional acceptance and a broader market integration.
  • Anticipation builds for the May 15 SEC filings, which will likely disclose more significant Bitcoin ETF purchases by top institutions.

Recent filings with the Securities and Exchange Commission reveal that prominent Wall Street firms and US banks have been actively purchasing Bitcoin Exchange Traded Funds (ETFs). This move indicates a rising institutional interest in cryptocurrency, potentially boosting Bitcoin’s acceptance and its market value.

Julian Fahrer, CEO of Apollo Sats, made the announcement public via X, emphasizing the significance of the latest SEC Form 13F disclosures: “BREAKING: 13F SEC Filings show US Banks are buying Bitcoin.”

These filings report transactions from investment entities ranging from family offices to investment managers, each managing assets worth between $200 million and $10 billion. The inclusion of American National Bank’s investment in Ark’s ETF particularly stands out as it marks a significant milestone in institutional engagement with cryptocurrency funds.

The investment details are as follows:

  • LexAurum Advisors, LLC invested in 11,973 shares of BlackRock’s IBIT ETF, totaling $484,547.
  • Founders Capital Management purchased 261 shares of IBIT, amounting to $10,563.
  • Signal Advisors Wealth bought 20,571 shares of IBIT valued at $832,496.
  • Park Avenue Securities LLC acquired 7,328 shares of Grayscale’s GBTC ETF for $457,780.
  • Marshall & Sullivan Inc. invested in 4,040 GBTC shares totaling $255,207.
  • Johnson & White Wealth Management, LLC bought 9,810 shares of GBTC for $613,125.
  • BCS Wealth Management acquired 9,196 shares of GBTC valued at $574,750.
  • Inscription Capital LLC purchased 4,866 shares of GBTC for $299,016.
  • Wedmont Private Capital invested in 3,471 shares of Fidelity’s FBTC ETF, totaling $209,336.
  • Gunderson Capital Management bought 7,671 shares of Bitwise’s BITB ETF for $296,944.
  • American National Bank made a notable purchase of 100 shares of Ark Invest’s ARKB for $7,098.
Wall Street US banks buy BTC, Image By: Apollo

Matt Hougan, Chief Investment Officer at Bitwise, highlighted the broader impact of these investments, stating on X, “For everyone wondering ‘who is buying’ bitcoin ETFs, I’d circle May 15th on your calendar.” He explained that entities managing over $100 million report their holdings biannually via the 13-F forms, which provide public transparency into their investment activities.

Additionally, the crypto analyst known as MacroScope chimed in, suggesting that the most interesting disclosures might emerge in May. He explained that some funds delay their filings to the last possible moment, aiming to maintain strategic secrecy. This tactic indicates that the full extent of institutional engagement with Bitcoin ETFs might still be unfolding.

These strategic purchases across various Bitcoin ETFs not only reflect a solidifying trust in Bitcoin’s long-term value but also signify a shift in institutional sentiment towards integrating cryptocurrency into traditional investment portfolios. The upcoming May 15 filings are expected to offer further clarity and reveal additional significant institutional players entering the Bitcoin space.

These developments suggest a compelling shift in the financial landscape, where traditional and institutional investments are beginning to intersect heavily with the innovative realm of cryptocurrencies. Such trends not only foster a greater market for Bitcoin but also likely catalyze further regulatory and public acceptance of digital currencies.

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Raymond Munene