A Boston hedge fund has snapped up $363 million worth of Bitcoin exchange-traded funds (ETFs).
Holdings Breakdown
According to Bloomberg analyst Eric Balchunas, Bracebridge Capital owns:
- $262 million in ARK 21Shares Bitcoin ETF (ARKB)
- $81 million in BlackRock’s iShares Bitcoin Trust (IBIT)
- $20 million in Grayscale Bitcoin Trust ETF (GBTC)
Bracebridge’s Investments
Bracebridge manages around $12 billion in assets and invests in companies like:
- Biotech firm Alvotech
- Holding company Ambac Financial
- Security solutions firm ADT
Institutional Interest
Other major financial institutions are also holding Bitcoin ETFs for clients:
- JPMorgan: $760,000 worth
- Wells Fargo: 2,245 shares of GBTC worth $123,000
This shows growing institutional interest in Bitcoin and its potential as an investment.
