Breaking: NYC Firm Becomes Top Holder In BlackRock, Fidelity, Bitwise, GBTC Bitcoin ETF
Highlights
- Boothbay Fund Management invested heavily in Spot Bitcoin ETF with a total buy of over $377 million.
- Boothbay is now the largest holder in BlackRock (IBIT), Fidelity (FBTC), and Bitwise (BITB) Bitcoin ETF.
- The firm is 5th largest holder of Grayscale's GBTC with over $69 million in investment.
- BTC price hits $65,000 amid spot Bitcoin ETF inflow and cooling CPI inflation.
New York City-based institutional investment firm Boothbay Fund Management becomes the largest holder in BlackRock iShares Bitcoin ETF (IBIT), Fidelity Wise Origin Bitcoin ETF (FBTC), and Bitwise Bitcoin ETF (BITB), as per a filing with the U.S. Securities and Exchange Commission (SEC) on May 15.
The fund also became one of the largest holders in Grayscale’s GBTC Bitcoin ETF with over $69 million in investment.
Boothbay Fund Management Pours $377 Million in Bitcoin ETFs
In a 13F-HR filing with the U.S. SEC, Boothbay Fund Management revealed a total of more than $377 million in investments in spot Bitcoin ETFs.
Boothbay Fund Management invested $149.80 million in BlackRock’s iShares Bitcoin ETF to become the largest holder of IBIT until now. Bracebridge Capital LLC and the State of Wisconsin Investment Board are the next two largest holders with $100 million and $99 million in investments, respectively.
Boothbay is also the largest holder of Fidelity Wise Origin Bitcoin ETF (FBTC). It invested $105.50 million to buy 1,700,000 shares of FBTC. Pine Ridge Advisers and Susquehanna International Group are the second and third-largest holders of IBIT with $93 million and $83 million, respectively.
The firm has also disclosed holdings in Bitwise Bitcoin ETF (BITB) and GBTC. It holds $52.25 million in BITB, becoming the largest holder in Bitwise Bitcoin ETF. Whereas, it bought 1,100,000 shares in GBTC worth $69.48 million. It is now the fifth-largest holder in GBTC.
Notably, BlackRock, Fidelity, and GBTC spot Bitcoin ETFs are the top three holdings of Boothbay Fund Management. The firm has also traded Coinbase, MicroStrategy, and Robinhood Markets shares in millions, as per the filing with the SEC.
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Bitcoin Price Recovers Amid Cooling CPI and Bitcoin ETF Inflow
The U.S. Spot Bitcoin ETFs have started the week on a positive note, while the momentum seems to be continuing. Notably, over the first two days of the week, the U.S. Spot Bitcoin ETF has noted a net inflow of nearly $170 million, after noting three days of outflow last week.
The U.S. Spot Bitcoin ETFs recorded an inflow of $100 million on May 14, renewing interest of traders in the crypto market.
BTC price hits $65,000 after the CPI inflation data came in cooler at 3.4% giving investors some respite. After the latest CPI data, the odds of rate cuts by the Federal Reserve are expected to begin in September.
The crypto trading volumes have also jumped in the last few days due to whale accumulation and spot Bitcoin ETF investments revealed by hedge funds and investment managers.
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