An analyst of Bloomberg ETF, Eric Balchunas, was mesmerized by the spot Bitcoin ETF of BlackRock, managing to land up with 414 holders in its initial opening. In his opinion, the fact that one can manage to gather twenty holders is supposedly an extremely big deal.
For 45 days now, 13F filings have been received, offering knowhow regarding the businesses buying spot Bitcoin ETF shares and their individual buying prices. Incidentally, 13F filings are meant for financial businesses for whom it is necessary to divulge their total holdings pertaining to the finishing of Q1 of 2024.
BlackRock’s ETF, IMIT, has turned out to be highly sought after regarding growth, rising from absolutely nothing regarding assets under management to its introduction in the early part of the year. It has reached a remarkable figure of $16.65 billion in terms of AUM.
Having $844 million of BlackRock’s ETF, Millennium Management is heading the list with regard to the business house that is the owner of the maximum number of IBIT shares. Right behind is Schonfeld Strategic Advisors with $248 million and Aristeia Capital with $163 million.
Moreover, the broad investor interest in BlackRock’s IMIT ETF reflects growing confidence in Bitcoin as an asset class among traditional financial institutions. This trend indicates the increasing integration of cryptocurrencies into mainstream investment portfolios.
As institutional investors continue to explore and expand their cryptocurrency holdings, ETFs like IMIT provide a regulated and familiar avenue for such investments, underscoring the evolving landscape of digital asset management.