Uncovering the BTC spot ETF holding institutions: Rothschild and JPMorgan Chase are not among the top ten, who is the first?
Original | Odaily Planet Daily
Author | How to
2024 is the first year that traditional financial capital has poured into the crypto world, thanks to the Bitcoin spot ETF issued at the beginning of the year. As of today, SoSoValue data shows that the total inflow of Bitcoin spot ETFs is $11.67 billion, with a total net asset value of $50.54 billion.
In the four months since its launch, the Bitcoin spot ETF has driven the crypto market value to increase by as much as 64.93%, with a maximum market value of US$28.45 trillion, and directly driven the Bitcoin market value to increase by as much as 59.25%.
As institutional investors have successively submitted 13 F (Institutional Holdings Report) documents to the US SEC to disclose their holdings of Bitcoin ETFs, the amazing purchasing power behind Bitcoin spot ETFs has been revealed. Odaily Planet Daily sorted out the holdings of relevant companies and found that asset management companies have become the "main force" of BTC spot ETFs. As shown below:
Odaily Planet Daily Note: The following list is ranked according to the amount of money in the documents disclosed by the institutions themselves. The standard for institutional disclosure is that the company manages more than $100 million in US assets or the institutions and individuals who buy and sell more than 5% of a single ETF share. The following does not represent the full list of institutions holding US Bitcoin spot ETFs.
Susquehanna International Group (SIG) ($1.3 billion)
Susquehanna International Group (SIG) is an American financial services company headquartered in Belgravia, Pennsylvania. Founded in 1987, it was co-founded by Jeff Yass, Arthur Dantchik and Joel Greenberg. SIG operates globally, covering securities trading, options trading, futures trading, derivatives trading, asset management and private equity investment. SIG is well-known for its professional and technical performance in the financial market and is considered one of the largest quantitative trading companies in the world.
SIG purchased $1.3 billion worth of the spot Bitcoin ETF, a small portion of the company's total investment of $575.9 billion.
Ovata Capital ($74 million)
Ovata Capital is an investment management company headquartered in Hong Kong and was founded in 2017. Ovata Capital's flagship product is the Ovata Equity Strategies Master Fund, which focuses on Asian equities and includes four core strategy segments: arbitrage, relative value, event-driven, and long-short.
Ovata Capital has a large position in US Bitcoin spot ETFs, including FBTC, GBTC, BITB and IBIT, accounting for 13.5%, 11.2%, 8.8% and 5.6% of its portfolio respectively, with a total value of more than US$74 million.
Hightower ($68.34 million)
Hightower is a global wealth management firm headquartered in the United States, providing comprehensive financial planning, investment management and asset management services. The company's client base includes individual investors, family offices, corporate clients and charities.
Hightower purchased more than $68.34 million worth of the U.S. Bitcoin spot ETF, which accounts for less than 0.1% of its total investment of $61.7 billion.
Rubric Capital Management ($60 million)
Rubric Capital Management is a US-based investment management firm founded in 2011. The firm focuses on equity investments and is known for implementing a long-term value investment strategy.
Rubric Capital Management, which manages $3.3 billion in assets, owns more than $60 million in BlackRock Bitcoin spot.
Yong Rong Asset Management ($38 million)
Yong Rong Asset Management is an asset management company headquartered in Hong Kong. The company focuses on providing clients with comprehensive investment management services covering multiple asset classes such as stocks, bonds, derivatives, etc.
Yong Rong Asset Management purchased about $38 million worth of IBIT, accounting for 12% of its portfolio and is the largest holding of BlackRock's Bitcoin spot ETF.
United Capital Management ($34.91 million)
United Capital Management is a comprehensive wealth management firm headquartered in the United States that provides a wide range of financial planning and investment management services.
United Capital Management holds over 350,000 shares of FBTC and 410,000 shares of BITO, accounting for 4.9% and 3% of its latest portfolio respectively, with a total value of approximately US$34.91 million. Among them, United Capital Management is one of the important shareholders of Fidelity FBTC.
Legacy Wealth Asset Management ($28.5 million)
Legacy Wealth Asset Management is a comprehensive wealth management company dedicated to providing clients with comprehensive financial planning and investment management services. The company may be headquartered in the United States and has acquired Autohome.
Legacy Wealth Asset Management owns over 350,000 shares of FBTC, accounting for 6.09% of its latest portfolio, and over 100,000 shares of GBTC, accounting for 1.84%, with a total value of over US$28.5 million.
Monolith Management ($24 million)
Monolith Management, owned by former Sequoia China partner Cao Xi, is an investment management company focused on growth companies in public and private markets. Its main investment directions are in industries such as technology, software, consumption and healthcare.
Monolith Management owns more than $24 million in IBIT, the fifth-largest holding among BlackRock ETFs.
IvyRock Asset Management ($19 million)
IvyRock Asset Management is a hedge fund management company headquartered in Hong Kong. The company manages various funds through its asset management business.
IvyRock Asset Management holds nearly $19 million in BlackRock’s spot Bitcoin ETF IBIT.
Quattro Financial Advisors ($16.5 million)
Quattro Financial Advisors is a family office. The firm provides portfolio management, financial planning, and investment advisory services. Quattro Financial Advisors serves clients in the United States.
Quattro Financial Advisors is the second-largest holder of BlackRock’s Bitcoin Spot ETF, with 468,000 shares of IBIT, worth about $16.5 million, or 5.4% of its portfolio.
U.S. Bancorp ($15 million)
US Bancorp is an American bank holding company. It is the parent company of US Bank National Association and the fifth largest bank in the United States, with more than 3,000 branches, mainly in the western and midwestern United States.
U.S. Bancorp disclosed more than $15 million worth of spot Bitcoin ETF investments. It is reported that it purchased approximately 87,744 shares of Fidelity's FBTC worth $5.4 million, 46,011 shares of Grayscale's GBTC worth $2.9 million, and 178,567 shares of BlackRock's IBIT worth $7.2 million. According to the latest 13 F filing, the company's total investment is $71.8 billion.
Oxler Private Wealth ($11.24 million)
Oxler Private Wealth is an investment platform. The platform provides information only. Advisory services are provided only to clients or potential clients of Oxler Private Wealth LLC and its representatives who are legally licensed or exempt from licensing.
Oxler Private Wealth holds 280,000 shares of IBIT, worth approximately $11.24 million, accounting for 4.4%.
Edmond de Rothschild Holding SA ($4.2 million)
Edmond de Rothschild Holding SA provides a wide range of wealth management services to private and institutional clients.
Edmond de Rothschild (Suisse) SA disclosed over $4.2 million worth of spot Bitcoin ETF investments. The company reported holding 103,600 shares of BlackRock IBIT, valued at just under $4.2 million. It also disclosed 1,300 shares of GBTC, valued at $82,121. The company’s total investments are $6 billion, according to the latest 13 F filing.
Newbridge Financial Services Group ($1.34 million)
Newbridge Financial Services Group offers a broad range of products, services and solutions to help clients achieve unique financial outcomes.
Newbridge Financial Services Group, with assets of over $340 million, holds about 20,000 shares of GBTC, valued at about $1.34 million, or just 0.58% of its $230 million portfolio.
Bank of New York Mellon ($1.113 million)
Bank of New York Mellon is a bank located in New York City, USA. Its main businesses are securities services and asset management. It holds 19,918 shares of IBIT and 7,108 shares of GBTC, with a current value of approximately $1.113 million.
JPMorgan Chase & Co. ($760,000)
JPMorgan Chase Group, commonly known as "JPMorgan", is an American financial institution headquartered in New York City. Its commercial banking division has 5,100 branches. In October 2011, JPMorgan Chase's assets surpassed Bank of America to become the largest financial services institution in the United States. JPMorgan Chase's business covers more than 50 countries, including investment banking, securities trading and services, investment management, commercial financial services, private banking services, etc.
JPMorgan Chase disclosed that it holds approximately $760,000 worth of ProShares BITO, BlackRock IBIT, Fidelity FBTC, Grayscale GBTC, and Bitwise BITB shares.
SouthState ($557,200)
SouthState is one of the Southeast's leading regional banks, serving more than one million customers through more than 240 locations in Florida, Alabama, Georgia, the Carolinas and Virginia. SouthState offers a full range of banking solutions, including personal banking, mortgages, small business banking, commercial banking and wealth management.
SouthState disclosed investments in two spot Bitcoin ETFs with a combined value of $577,198. SouthState’s investments in spot Bitcoin ETFs represent only a small portion of the $1.3 billion total reported in its filing.
BNP Paribas ($40,000)
BNP Paribas is a world-class financial group headquartered in Paris, France. It is the largest bank in France and the largest bank in the Eurozone in terms of deposits. It is also one of the largest banks in the world and is among the top four systemically important financial institutions.
BNP Paribas purchased 1, 030 shares of IBIT, valued at only about $40,000.
Wells Fargo Bank (undisclosed)
Wells Fargo Banking Corporation was founded in New York, USA in 1852. It is a diversified financial group with total assets of US$1.9 trillion. Wells Fargo Bank is one of the four largest banks in the United States along with JPMorgan Chase, Bank of America, and Citigroup.
According to newly disclosed U.S. Securities and Exchange Commission documents, Wells Fargo has exposure to spot Bitcoin ETFs.
