New information from the newest 13F filings reveals a pointy improve in institutional curiosity in spot Bitcoin ETFs, with registered funding advisors (RIAs) rising because the dominant gamers.
Bloomberg’s senior ETF analyst, Eric Balchunas, highlighted that RIAs have now taken the lead amongst institutional holders of Bitcoin ETFs. Collectively, this group holds publicity to greater than 124,000 BTC, which quantities to over $10.2 billion in property.
That determine locations them effectively forward of hedge funds, which account for roughly $7 billion in Bitcoin ETF publicity, and brokerages, which maintain about $2.1 billion.
Business insiders additionally level to a shift in how RIAs are advertising and marketing crypto to high-net-worth (HNW) purchasers.
William Poulin, former head of product at Constancy, highlighted a development the place savvy advisors rebrand portfolio methods as unique hedge funds.
These RIAs are putting Bitcoin and Ethereum into restricted partnerships (LPs), then charging administration charges within the construction of “1 and 15”—that’s, 1% of property underneath administration (AUM) plus 15 foundation factors of positive aspects.
The put up RIAs surpass hedge funds in Bitcoin ETF holdings, handle over $10 billion in BTC appeared first on CryptoSlate.
