List of Giant Investment Banks Holding Bitcoin Spot ETFs

Todaysgist, News – Institutional demand for crypto in the US has surged during the second quarter of 2024, a growing sign of crypto’s mainstream appeal during an election year.

Reported from Yahoo FinanceFriday (16/8/2024), this increase can be seen from the latest Goldman Sachs report which reported a position of more than USD 400 million or equivalent to IDR 6.3 trillion (assuming an exchange rate of IDR 15,773 per US dollar) in seven of the 11 spot bitcoin ETFs traded in the US. However, it is not the only major company to reveal bitcoin exposure through ETFs.

Morgan Stanley also increased its bitcoin ETF holdings from the previous quarter, when it held two shares each of the Simplify Bitcoin Strategy ETF (MAXI) and the Valkyrie Bitcoin and Ether Strategy ETF (BTF).

According to Wednesday’s filing, Morgan Stanley not only added to those two holdings but also entered new positions in six other spot bitcoin ETFs worth about $189 million as of June 30. The iShares Bitcoin Trust ETF (IBIT) accounted for nearly all of that exposure.

Next, Wells Fargo expanded its holdings beyond the Grayscale Bitcoin Trust (GBTC) to include the Fidelity Wise Origin fund (FBTC), Invesco Galaxy bitcoin ETF (BTCO), iShares and VanEck Bitcoin Trust funds (HODL).

Last year was also quite a successful one for bitcoin, with institutional adoption of the crypto increasing dramatically since the introduction of a new bitcoin exchange-traded fund (ETF) in January.

Despite concerns about a US recession earlier this month, hedge funds and large institutions are still eyeing opportunities in the crypto industry.

Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Todaysgist is not responsible for the profits and losses arising from investment decisions.