About six months after an initial allocation, Hougan said he’d expect allocations to rise to 1-5% of professional investor portfolios.
Matt Hougan, CIO at spot bitcoin ETF issuer Bitwise, said the recently revealed bitcoin allocations of institutional investors from first-quarter 13F filings were just a “down payment.”
“The great promise of bitcoin ETFs is that they can open the door for professional investors to buy bitcoin en masse, dramatically increasing the pool of capital investing in the asset,” he added.13F filings are quarterly reports filed with the SEC by institutional investment managers with at least $100 million in equity assets under management. The filings provide a view of the manager's stock holdings at the end of each quarter.
Hougan also highlighted Hightower Advisors, the number two RIA firm in the U.S., owning $68 million worth of the spot bitcoin ETFs, as well as Cambridge Investment Research, Sequoia Financial Advisors, Integrated Advisors and Brown Advisory, with $40 million, $12 million, $11 million, $4 million allocations, respectively.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grayscale spot bitcoin ETF inflows may be result of short-term trading: Bloomberg ETF analystBloomberg's James Seyffart offers some theories as to why Grayscale's spot bitcoin ETF logged inflows two days straight.
Read more »
Bitcoin drops below $60K as analyst says zero spot Bitcoin ETF inflows ‘very normal’Market participants eyeball the significance of zero spot ETF flows as Bitcoin price sinks under $60,000.
Read more »
Pension Consultants are Buying US Spot Bitcoin ETFs: 13F SEC FillingsRecent 13F SEC filings reveal major pension consultant is buying spot Bitcoin ETFs.
Read more »
Spot Bitcoin ETF: Here's Why Vanguard Might Finally Join BlackRockWith new CEO, will Vanguard reconsider its spot Bitcoin ETF stance?
Read more »
Vanguard appoints Bitcoin-friendly former BlackRock ETF lead as CEOSalim Ramji succeeds Tim Buckley, who said in January Vanguard wouldn't offer spot bitcoin ETFs to its brokerage customers.
Read more »
Daily spot bitcoin ETF inflows top $100 million as ARKB overpowers GBTCSpot bitcoin ETFs in the U.S. saw a daily net inflow of over $100 million yesterday as ARKB inflows overpowered the usual GBTC outflows.
Read more »