In the latest big-name transaction around Bitcoin, $130 billion asset manager Hightower has revealed it purchased $68 million worth of Spot Bitcoin ETFs. Today, Hightower disclosed the following Bitcoin ETF positions in a 13F SEC filing:
- Grayscale BTC: $44,838,000 (709,956 shares)
- Fidelity Bitcoin ETF: $12,410,000 (200,084 shares)
- BlackRock Bitcoin ETF: $7,621,000 (188,397 shares)
- ARK Bitcoin ETF: $1,702,000 (23,964 shares)
- Bitwise Bitcoin ETF: $988,000 (25,449 shares)
- Franklin Templeton Bitcoin ETF: $788,000 (19,129 shares)
The diverse set of investments in Bitcoin ETFs is an interesting note, however, it only grows optimism in the world’s leading cryptocurrency nonetheless. Hightower Advisors is one of the leading RIA firms in the country. The firm helps grow financial advisory businesses and connect clients with financial advisors.
Hightower Becomes Latest Big-Name Spot Bitcoin ETF Investor
The success of Spot Bitcoin ETFs has been undeniable. Since SEC approval in January 2024, the ETF market has been taken over by Bitcoin, and the asset since the start of the year has skyrocketed to all-time highs. Investors looking for new options to put their money into have looked to BTC as a significant player in stock trading. Additionally, with the help of Spot Bitcoin ETFs from Grayscale, BlackRock, and other options, the asset has become a household name across the country.
Also Read: Hong Kong Bitcoin ETFs Predicted to Hit $1B AUM in 2024
There is no clear reason why Hightower split up its Spot Bitcoin ETF investments in the way they did, however, the spread is still huge news. This investment in BTC ETFs only raises the interest of other asset management firms in Bitcoin and the exchange-traded funds. Furthermore, trillions of dollars have gone into these assets over the past few months, and the train doesn’t appear to be slowing down.
Hightower has yet to publicly comment on their decision to invest $68M into Spot Bitcoin ETFs.