Unveiling the Biggest Bitcoin (BTC) ETF Holders: BlackRock and Ark Funds Dominate the Crypto Market

  • Bracebridge Capital, a Boston-based hedge fund, has emerged as one of the largest holders of spot Bitcoin ETFs, with significant holdings in BlackRock and Ark Invest/21 Shares ETFs.
  • The firm’s Bitcoin exposure across these ETFs totals $363 million, setting a “new high water mark” for non-market maker and non-authorized participant holdings.
  • Bracebridge Capital’s total spot Bitcoin ETF holdings were valued at $434 million in March, not including options.

Bracebridge Capital, a hedge fund in Boston, has become a significant player in the crypto space, holding hundreds of millions in Bitcoin ETFs. This article delves into the firm’s investment strategy and its implications for the crypto market.

Bracebridge Capital’s Significant Bitcoin ETF Holdings

Bracebridge Capital, a hedge fund based in Boston, has become one of the largest holders of spot Bitcoin ETFs. The firm has significant holdings in BlackRock and Ark Invest/21 Shares ETFs, with a total Bitcoin exposure across these ETFs amounting to $363 million. According to Bloomberg ETF Analyst Eric Balchunas, this sets a “new high water mark” for holdings by entities other than market makers and authorized participants.

Details of Bracebridge Capital’s Bitcoin Investments

Bracebridge Capital, established in 1994, manages approximately $12 billion in assets. The firm’s spot Bitcoin ETF holdings were valued at $434 million in March, not including options. This snapshot of the firm’s U.S. traded equities in the first quarter, among other positions, was taken when Bitcoin’s price was close to $72,000. Now it’s around $62,700.

Breakdown of Bracebridge Capital’s Bitcoin ETF Holdings

Behind $300 million in Ark Invest and 21Shares’ Bitcoin ETF, Bracebridge Capital reported holding $100 million in BlackRock’s Bitcoin ETF, and $26.5 million in Grayscale’s Bitcoin Trust. In addition to holding shares of BlackRock’s spot Bitcoin ETF, Bracebridge Capital held options for the product worth $284 million at the time. Not including other spot Bitcoin ETFs, the total exposure to BlackRock’s product represented 47% of Bracebridge Capital’s reported holdings.

Conclusion

Bracebridge Capital’s significant holdings in Bitcoin ETFs highlight the growing institutional interest in the crypto market. With a total Bitcoin exposure of $363 million across various ETFs, the firm has set a new benchmark for non-market maker and non-authorized participant holdings. As the crypto market continues to evolve, it will be interesting to see how other institutional investors respond.

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Merritt Vale
Merritt Valehttps://en.coinotag.com/
Merritt Vale is a 24-year-old woman who has a strong affinity for the Dogecoin community and has a particular love for the altcoin Shiba. With a passion for understanding the latest trends and developments in the cryptocurrency industry, Merritt provides fresh perspectives and valuable insights to her readers.
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