BlackRock’s largest Bitcoin spot ETF holder revealed

On Bitcoin spot ETFs approved by the SEC on January 10th, BlackRock’s ETFs stand out in this sense. US-based hedge fund became BlackRock’s largest Bitcoin ETF holder. Apart from the $80 million BlackRock IBIT fund, the company also has ARK Invest and Grayscale investments. The company has also invested 88% of its assets in Bitcoin and its derivatives…

BlackRock’s largest Bitcoin spot ETF holder revealed

It was revealed that the hedge fund called Bracebridge Capital, which has $12 billion in assets under management, holds close to $400 million in Bitcoin spot ETFs. According to information shared by Bloomberg’s experienced ETF analyst Eric Balchunas, the company bought various amounts of Bitcoin spot ETFs from BlackRock, ARK Invest and Grayscale.

Bracebridge holds the most BlackRock and ARK Invest ETFs

The company’s confidence in Bitcoin is noteworthy, while it is the largest purchaser of both BlackRock and ARK Invest ETFs. Bracebridge has an $80 million IBIT ETF and a $260 million ARKB ETF. The hedge fund also holds $20 million worth of GBTC shares. The statistics exclude market makers and authorized participants who play an important role in creating consistent prices.

Founded in 1994, Bracebridge, a Boston-based hedge fund company, also manages the endowment funds of Princeton and Yale University.

88% in Bitcoin and its derivatives…

In addition to BlackRock’s spot Bitcoin ETF, the company also has several option positions in the product. The value of these positions was $284 million at the end of March as reported to the SEC. This means that the company’s total investment in BlackRock products accounts for almost 47% of its assets.

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