1,028 Companies with Over $100M in Assets Holding Bitcoin Spot ETFs
CryptoNewsTerminal Staff16 May, 2024
1,028 Companies with Over $100M in Assets Holding Bitcoin Spot ETFs
Matt Hougan, CIO of crypto asset manager and bitcoin spot ETF issuer Bitwise, shared on his Twitter (NYSE:TWTR) that 1,028 companies with over $100 million in assets held bitcoin spot ETFs in their 13F filings submitted to the U.S. Securities and Exchange Commission in the first quarter of 2024. These companies hold a combined $10.9 billion in bitcoin spot ETFs. Hougan noted that this is a significant increase from the fourth quarter of 2023, when only 670 companies with over $100 million in assets held bitcoin spot ETFs. He added that institutions are "starting to nibble on spot Bitcoin ETFs. ETFs have been a huge success already, but institutional buying of spot ETFs is still in its early innings." The growing adoption of bitcoin spot ETFs by institutional investors is a positive sign for the cryptocurrency industry. It shows that institutions are becoming more comfortable with bitcoin and are recognizing its potential as an investment. This trend is likely to continue in the future, as more and more institutions gain exposure to bitcoin through spot ETFs.
