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Hightower Advisors, SouthState Financial institution disclose investments in spot Bitcoin ETFs

Hightower Advisors disclosed a $68 million funding in spot Bitcoin ETFs in a Might 6 submitting.

The 13F submitting signifies that the agency holds 709,956 shares of Grayscale’s GBTC price $44.8 million, 200,084 shares of FBTC price $12.4 million, 188,397 shares of BlackRock’s IBIT price $7.6 million, and 23,964 shares of Ark Make investments’s ARKB price $1.7 million.

It additionally disclosed two smaller investments: 25,449 shares of Bitwise’s BITB price $988,000 and 19,129 shares of Franklin Templeton’s EZBC price $788,000.

Hightower’s funding within the six spot Bitcoin ETFs represents a small fraction of the $61.7 billion complete disclosed in its newest submitting.

SouthState buys GBTC, IBIT

One other monetary establishment, SouthState Financial institution, disclosed investments in two spot Bitcoin ETFs price  $577,198 mixed by means of a 13F submitting.

The corporate reported 6,606 shares of Grayscale’s GBTC price $417,301, plus 3,951 shares of BlackRock’s IBIT price $159,897.

SouthState Financial institution’s spot Bitcoin ETF investments signify a small a part of the $1.3 billion complete reported in its submitting.

Institutional funding continues

Every submitting represents continued institutional entry into the spot Bitcoin ETF market.

Hightower is without doubt one of the largest US-based registered funding advisors and wealth administration companies, with $130 billion of belongings underneath administration (AUM).

SouthState Financial institution is a Florida-based financial institution. Following a merger with CenterState Financial institution, the 2 entities have a mixed $34 billion in belongings underneath administration.

The newest experiences observe a number of different related filings. French banking large BNP Paribas disclosed an funding in IBIT on Might 2. Burkett Monetary Companies reported investments in April, whereas Legacy Wealth Asset Administration and others additionally reported investments in the identical month.

BlackRock’s head of digital belongings, Robert Mitchnick, has predicted that monetary establishments will more and more put money into and commerce spot Bitcoin ETFs within the coming months. The varied latest disclosures from monetary establishments assist his declare.

Spot Bitcoin ETFs presently have $53 billion in belongings underneath administration.

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