By Suzanne McGee
(Reuters) – Asset managers, ranging from wealth management companies to hedge funds and pension funds, were boosted to allocations to US exchange trading funds attached to the price of Bitcoin in the fourth quarter of 2024, as the world's largest cryptocurrency price ascended 47 47 %, according to recent regulatory filing.
The Wisconsin Province Investment Board in its 13-F quarterly filing with the Securities and Exchange Commission revealed that its Bitcoin ETF holdings were more than doubled in the last three months of last year, to 6 million Bitcoin Ishares Trust ETF shares by December 31.
Other major investment funds also promoted their holdings in the ETFs, launched in January 2024.
Tudor Investment Corp., systematic hedge fund manager, reported that his holdings of Ishhares ETF – now the largest of the package, with more than $ 55 billion in assets – climbed to 8 million shares, of 4.4 million shares. The value of those holdings also rose, reflecting the value of Bitcoin's jump, hitting $ 426.9 million, up from $ 159.9 million at the end of September. Tudor did not immediately respond to a request for attention.
Abu Dhabi's Sovereign Wealth Fund, Mubadala Investment Co.
Capital Hunting Hill Capital did not come into contact with these ETFs at the end of the third quarter, but by December 31 it had reappeared as a significant investor, with jobs priced around $ 131 million by the end of the year.
“We have been trading within the wider crypto ETF complex, and the timing of the third -quarter filing may not have aligned with them when we bought and sold various ETFs,” said Adam Guren, founder and chief investment officer of the company .
The ranks of those who add to jobs included financial advice companies whose clients have been eager buyers of Bitcoin ETFs. Cetera and Newedge advisers were among companies and promoting holdings in several of the ETFs, including products offered by Fidelity, ARK Investments and Investo.
Other investors were more optional, the filing showed. Cresset Asset Management promoted its exposure to ETFs carrying lower fees, said Jack Ablin, Chief Investment Officer for the company.
“It's also possible at the moment to get attractive options prices for collar strategies, allowing us to protect the disadvantage in putting less from the surface in return, on these Bitcoin funds,” said Ablin.