Bracebridge Capital Becomes Largest Spot Bitcoin ETF Holder

2 Mins read

Bracebridge Capital, a hedge fund that manages the finances of institutions like Yale University and Princeton University, has emerged as the largest holder of various spot Bitcoin exchange-traded funds (ETFs), according to a recent 13F filing with the Securities and Exchange Commission.

The Boston-based firm disclosed its ownership of shares in Ark Invest, BlackRock, and Grayscale U.S. spot Bitcoin ETFs.

Hedge Fund’s $434 Million Crypto Holdings

The breakdown of Bracebridge Capital’s holdings reveals a large stake in Ark Invest’s ARKB, with 4,327,380 shares, alongside 2,486,750 in BlackRock’s IBIT and 419,910 in Grayscale’s GBTC.

These holdings were reported to be valued at $307.2 million, $100.6 million, and $26.5 million, respectively. As of March 31, Bracebridge Capital’s holdings in these ETFs were valued at a total of $434 million.

Bloomberg ETF analyst Eric Balchunas highlighted Bracebridge Capital’s dominant position, particularly in Ark Invest and BlackRock’s Bitcoin ETFs. “The new high water mark for Bitcoin ETF holdings has arrived,” Balchunas stated.

Another filing from the State of Wisconsin’s Investment Board showed that the entity had bought $99 million worth of BlackRock’s Bitcoin ETF.

ETFs Dominate Bracebridge Capital’s Portfolio

According to Ark’s fund page, Bracebridge Capital’s ARKB holdings also surpass those of the company spearheaded by Cathie Wood.

Balchunas also noted that these ETFs now make up a large portion of Bracebridge Capital’s overall portfolio, with ARKB alone accounting for 61.1% of its holdings, followed by IBIT and GBTC at 20% and 6.6%, respectively.

“What is also notable is the sheer number of holders that each has so far,” “IBIT is up to 250. That’s bonkers for the first quarter on the market,” Balchunas added.

However, while the 13F filings provide valuable insights into Bracebridge Capital’s long positions, they do not capture the entirety of its investment strategy, as short positions are not required to be disclosed.

13F filings, submitted quarterly to the SEC, are reports filed by institutional investment managers overseeing a minimum of $100 million in equity assets under management. These filings offer a look into the manager’s stock holdings at the close of each quarter.

A community member advised against normalizing the calculation of fund portfolio weights based on the aggregation of the 13F reportable positions, stating that relying solely on the 13F report provides little insight into Bracebridge’s actual views on the reported securities.


Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!

Source link

Related posts

Crypto Analyst Predicts 28,900% Rally To $154 For XRP Price, Here’s When

2 Mins read
Crypto analyst CryptoBull recently highlighted a bullish pattern that could send the XRP price to three figures. However, the analyst failed to…

GCR’s Hack Possibly Tied to Solana’s CAT Coin Team, Onchain Sleuth Zachxbt Reports

1 Mins read
On May 26, the trader known as GCR was allegedly hacked, possibly by the team behind the Solana-based meme coin CAT, as…

MAR mining received US$100 million in strategic financing to bring a better experience to users.

2 Mins read
MAR mining, the leading decentralized governance infrastructure, announced the completion of another US$100 million round of strategic financing, with participation from Nomad…



Leave a Reply

Your email address will not be published. Required fields are marked *