Bitcoin Price Pumps Higher as Morgan Stanley Reveals Significant Holdings in US Spot Bitcoin ETFs – Here’s the Latest
The Bitcoin (BTC) price has been pumping higher this week in wake of US CPI data that pointed at moderating price pressures, and as major financial institutions including Morgan Stanley reveal significant holdings in US spot Bitcoin ETFs.
Bitcoin was last changing hands just below $66,000, having hit new monthly highs above $66,750 earlier in the day.
Morgan Stanley revealed significant holdings of $270 million worth of spot Bitcoin ETFs in a Wednesday 13F filing.
The US investment banking and asset management giant had signaled back in February that it intended to gain BTC exposure.
The bank is also paving the way to begin recommending spot Bitcoin ETFs to its clients.
Morgan Stanley’s BTC holdings reveal comes at a time when droves of other institutional investors are also revealing holdings.
As of Thursday, Q1 13F filings show that over 500 asset managers have exposure to spot Bitcoin ETFs.
Millennium Management is the largest known holder at present with nearly $2 billion in holdings. That’s roughly 3% of the hedge funds’ $64 billion in AUM.
As per Bloomberg ETF analyst Eric Balchunas, Millenium is the current “king” of ETF holders.
Millennium is king of the bitcoin ETF holders w/ about $2b across four ETFs. This is out of over 500 holders (about 200x the avg for new ETF). Majority are inv advisors (60%) but a big dose of HFs (25%). Never can be totally sure what HFs up to but they were def big buyers. pic.twitter.com/iVtVXjhId0
— Eric Balchunas (@EricBalchunas) May 15, 2024
Balchunas notes that the new spot Bitcoin ETFs have about 200x the average number of holders for a new ETF.
It’s “impressive just how many different institution types represented in first 13Fs”, he continued.
These holders included a state pension fund – the
Read more on cryptonews.com
