In the latest major Bitcoin transaction, $130 billion asset manager Hightower revealed it has purchased $68 million worth of Spot Bitcoin ETFs. Today, Hightower announced the following Bitcoin ETF holdings in a 13F SEC filing:
- Grayscale BTC: $44,838,000 (709,956 shares)
- Fidelity Bitcoin ETF: $12,410,000 (200,084 shares)
- BlackRock Bitcoin ETF: $7,621,000 (188,397 shares)
- ARK Bitcoin ETF: $1,702,000 (23,964 shares)
- Bitwise Bitcoin ETF: $988,000 (25,449 shares)
- Franklin Templeton Bitcoin ETF: $788,000 (19,129 shares)
The diverse range of investments in Bitcoin ETFs is an interesting note, but it nonetheless only increases optimism in the world's leading cryptocurrency. Hightower Advisors is one of the leading RIA firms in the country. The company helps grow financial advisory businesses and connect clients with financial advisors.
Hightower becomes the latest major spot Bitcoin ETF investor
The success of Spot Bitcoin ETFs is undeniable. Since the SEC's approval in January 2024, the ETF market has been taken over by Bitcoin, and assets have skyrocketed to record highs since the beginning of the year. Investors looking for new options to put their money into have seen BTC as a major player in stock trading. Moreover, with the help of Spot Bitcoin ETFs from Grayscale, BlackRock and other options, the asset has become a household name across the country.
Also read: Hong Kong Bitcoin ETFs expected to reach $1 billion in assets under management by 2024
There's no clear reason why Hightower split its Spot Bitcoin ETF investments this way, but the spread is still big news. This investment in BTC ETFs only fuels other asset managers' interest in Bitcoin and its exchange-traded funds. Furthermore, trillions of dollars have been poured into these assets in recent months, and the train doesn't appear to be slowing down.
Hightower has not yet publicly commented on their decision to invest $68 million in Spot Bitcoin ETFs.