Home Crypto Four Institutional Investment Managers Get BTC Exposure After Purchasing 250,204 Shares of...

Four Institutional Investment Managers Get BTC Exposure After Purchasing 250,204 Shares of Grayscale Bitcoin Trust

Four institutional funding companies are gaining publicity to Bitcoin, shopping for up 250,204 shares of Grayscale’s Bitcoin funding product.

The Grayscale Bitcoin Trust (GBTC) gives institutional traders publicity to Bitcoin (BTC), as its shares monitor the efficiency of the main crypto. According to Grayscale, every share represents 0.00093848 BTC.

According to current filings with the U.S. Securities and Exchange Commission (SEC), 4 wealth managers have both purchased an preliminary tranche of GBTC shares or elevated their holdings.

Ancora, an Ohio-based household wealth advisory agency, purchased 13,945 GBTC shares, in line with filings for the June thirtieth reporting interval. The firm, which was based in 2003, is presently managing $9.40 billion in property.

Also in line with filings for the June thirtieth reporting interval, Clear Perspective bought 7,790 GBTC shares. The Illinois-based funding adviser has over $591 million in assets underneath administration.

Filings with the SEC show that Boston Private Wealth purchased two tranches of GBTC shares this 12 months. As of March thirty first of this 12 months, the agency held 88,189 GBTC shares, however in line with the June thirtieth reporting interval, the agency upped its publicity to 103,469 GBTC. The funding advisory agency touts $17.2 billion in property underneath administration.

Parkwood, a monetary companies agency based mostly in Cleveland, additionally elevated its GBTC holdings. As of March thirty first, Parkwood had 93,000 GBTC shares. By June thirtieth, the corporate’s GBTC holdings witnessed an uptick to 125,000 shares. The agency’s portfolio worth presently stands at $863.63 million.

Bitcoin is buying and selling at simply over $47,000 at time of writing, according to CoinGecko.

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Disclaimer: Opinions expressed at The Daily Hodl usually are not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any loses you might incur are your duty. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please notice that The Daily Hodl participates in internet affiliate marketing.

Featured Image: Shutterstock/agsandrew

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