Asset managers, including wealth management firms, hedge funds, and pension funds, increased their investments in U.S. exchange-traded funds linked to bitcoin's price by 47% in the last quarter of 2024, as reported in recent regulatory documents.
The State of Wisconsin Investment Board revealed in its quarterly 13-F filing with the Securities and Exchange Commission that its holdings in a bitcoin ETF doubled to 6 million shares by December 31st. Similarly, other major funds like Tudor Investment Corp and Mubadala Investment Co. also raised their stakes in these bitcoin ETFs that were introduced in January 2024.
Tudor Investment Corp's holdings in the iShares ETF stood at 8 million shares, valued at $426.9 million, up from 4.4 million shares at the end of September. The Abu Dhabi sovereign wealth fund, Mubadala Investment Co, entered the bitcoin ETF market with an 8.2 million share position worth $436.9 million in the fourth quarter.
Hunting Hill Capital diversified its portfolio by investing about $131 million in these ETFs by the year's end, up from zero exposure in the previous quarter.
Financial advisory firms like Cetera Advisors and NewEdge Advisers increased their holdings in various ETFs offered by prominent names like Fidelity, ARK Investments, and Invesco. On the other hand, Cresset Asset Management chose ETFs with lower fees, indicating a strategic investment approach to protect against downside risks while benefiting from potential upsides.
The 13F filings shed light on institutional investors' positions at the close of each quarter, providing valuable insights into market trends and investment strategies. It is noted that these filings may not capture real-time holdings.