Major $75M Investment in Bitcoin ETFs by Firm in BlackRock, Fidelity, Bitwise, GBTC: SEC Filing Reveals

  • Hong Kong-based Ovata Capital Management has invested $75 million in four US-based Bitcoin ETFs.
  • The investment firm is now the top holder in Fidelity Wise Origin Bitcoin ETF (FBTC).
  • The Bitcoin price is on a recovery path as Bitcoin ETF inflow rose massively.

Hong Kong-based Ovata Capital Management has made a significant investment in four US-based Bitcoin ETFs, indicating a strong institutional interest in the cryptocurrency.

Ovata Capital Management’s Massive Investment

Ovata Capital Management, a Hong Kong-based investment firm, has invested a whopping $75.53 million in four US-based spot Bitcoin ETFs. This information comes from the latest 13F filings with the U.S. Securities and Exchange Commission, indicating that institutional investors are still riding the wave of Bitcoin ETFs.

Top Holder in Fidelity Wise Origin Bitcoin ETF

According to an SEC filing, Ovata Capital Management is now the largest holder in the Fidelity Wise Origin Bitcoin ETF (FBTC). The investment firm has invested $25.93 million in this particular ETF. In addition, Ovata has also purchased units in Grayscale Bitcoin Trust (GBTC) and Bitwise Bitcoin ETF (BITB) worth $21 million and $16 million, respectively. The firm also invested $10.88 million in BlackRock iShares Bitcoin ETF (IBIT).

Bitcoin ETFs Record Inflow

Grayscale Bitcoin ETF registered its first-ever inflows of $63 million on Friday. While the inflow was relatively small, it is a welcome development to give GBTC investors and the crypto community some relief. Spot Bitcoin ETF recorded a notable total net inflow of $378 million, marking the first positive inflow after seven consecutive days of outflows.

Bitcoin Price on Recovery Path

Bitcoin saw a surprise recovery after the latest economic data revealed a cooling labor market and an increase in unemployment to 3.9%. This indicates the US Federal Reserve can still have sufficient rate cuts this year, with FED Swaps indicating 2 rate cuts of 25 bps each. As a result, the BTC price surpassed over $64,000 today, with the price currently trading at $63,597. The 24-hour low and high are $61,576 and $64,494, respectively.

Conclusion

Ovata Capital Management’s significant investment in Bitcoin ETFs indicates a strong institutional interest in the cryptocurrency. With Bitcoin ETFs recording inflow and the Bitcoin price on a recovery path, it seems that the cryptocurrency market is showing signs of resilience and growth.

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