Titan Global Massive $65.5 Million Dip Into BlackRock's Bitcoin ETF

IconCNT15 May, 2024

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Titan Global Massive $65.5 Million Dip Into BlackRock's Bitcoin ETF

BlackRock's physical Bitcoin exchange-traded fund (ETF), IBIT, has reportedly seen a major investment from Titan Global Capital Management, according to CryptoSlate. The US fintech advisory firm revealed in a filing with the Securities and Exchange Commission (SEC) on Monday that it holds 1.6 million shares of IBIT, valued at roughly $65.5 million. This news follows a similar investment by KeyBank National Association, which owns 235,182 shares of the Grayscale Bitcoin Trust (GBTC), with a combined value of $235,182. IBIT and GBTC have attracted the attention of numerous significant institutions, including Symmetry Investments, Rubric Capital, JPMorgan, Wells Fargo, Hatteras Investors, South State Bank, U.S. Bancorp, Edmond de Rothschild Holding, UBS, Multicoin Capital, the Wisconsin Investment Board, and Pine River Capital Management, among others. SEC 13F filings indicate that at least 317 institutions have invested in IBIT, while over 502 have invested in GBTC. Previously on May 15, 2024, Titan Global Capital Management announced a massive investment in BlackRock's Bitcoin ETF, showcasing the growing adoption of Bitcoin by traditional financial institutions.

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