Major US Banks and Wall Street Firms Turn to Bitcoin ETFs, SEC Reports Show
SEC filings reveal top US banks and Wall Street giants are now investing in Bitcoin ETFs
Recent SEC filings indicate a significant rise in Bitcoin ETF purchases by major US banks and Wall Street firms, suggesting a shift towards cryptocurrency in traditional financial sectors.
These filings, under Form 13F, show a deeper institutional engagement with Bitcoin, which could influence its wider acceptance and market value.
Julian Fahrer, CEO of Apollo Sats, announced on social media, "BREAKING: US Banks are now buying Bitcoin."
This statement reflects increasing institutional support from entities with assets ranging from $200 million to $10 billion, with significant investments noted across various firms.
For instance, American National Bank has invested in Ark’s ETF, marking a notable move into ETFs by banks.
Park Avenue Securities, with assets under management of $9.9 billion, purchased 7,328 shares of Grayscale’s GBTC, valued at $457,780. Overall, Wall Street's investments in Bitcoin ETFs totaled about $4 million in the first quarter.
Detailed investment figures include LexAurum Advisors, LLC buying 11,973 BlackRock IBIT ETF shares for $484,547, and Founders Capital Management securing 261 IBIT shares at $10,563.
Signal Advisors Wealth took 20,571 IBIT shares, totaling $832,496.
Other significant purchases include Johnson & White Wealth Management’s 9,810 GBTC shares for $613,125, and BCS Wealth Management’s 9,196 GBTC shares valued at $574,750.
Matt Hougan from Bitwise highlighted the significance of these disclosures, noting that upcoming filings by May 15 will unveil significant investor names, as these are required from entities managing over $100 million. This transparency provides a glimpse into public equity holdings.
MacroScope, a renowned crypto analyst, suggested that the most intriguing names might be revealed in May filings, as some institutions delay their disclosures to maintain a strategic edge.
The growing trend of substantial institutional investments in Bitcoin ETFs indicates a strengthening confidence in Bitcoin’s long-term value as an investment asset.
The upcoming filings are eagerly anticipated to further highlight this trend, demonstrating Wall Street’s increasing integration of Bitcoin into its portfolios.
