Exploring Bracebridge Capital’s Holdings in ARK Invest, BlackRock, and Grayscale
Bracebridge Capital, a hedge fund managing the endowments of Yale and Princeton University, recently disclosed its ownership of shares in prominent cryptocurrency investment vehicles, including ARK Invest, BlackRock, and Grayscale U.S. spot bitcoin exchange-traded funds. Here’s a breakdown of their holdings:
Bracebridge Capital’s Crypto Holdings
- 4,327,380 shares in Ark Invest’s ARKB
- 2,486,750 shares in BlackRock’s IBIT
- 419,910 shares in Grayscale’s GBTC
Understanding 13F Filings
Bracebridge Capital’s disclosure came through a 13F filing with the Securities and Exchange Commission, offering insights into their stock holdings as of March 31. Here’s what you need to know about 13F filings:
What Are 13F Filings?
- Quarterly reports by institutional investment managers
- Required for managers with $100 million+ in equity assets
- Offer a snapshot of stock holdings at the end of each quarter
Key Takeaways from Bracebridge Capital’s Investments
Bracebridge Capital’s significant presence in the Bitcoin ETF market has garnered attention. Here are some notable points:
- Bracebridge Capital is a top owner of Ark Invest and BlackRock’s spot bitcoin ETFs
- Their reported holdings surpassed $300 million
- Bitcoin’s market volatility impacted their asset valuations
US Spot Bitcoin ETFs Dominate Bracebridge Capital’s Portfolio
Bracebridge Capital’s latest investments suggest a strategic allocation towards US spot bitcoin ETFs. Here’s a glance at their crypto portfolio composition:
Portfolio Composition:
- Ark Invest’s ARKB: 61.1% of the portfolio
- BlackRock’s IBIT: 20% of the portfolio
- Grayscale’s GBTC: 6.6% of the portfolio
Additional Details on Bracebridge Capital’s Holdings
Aside from their crypto investments, Bracebridge Capital also includes traditional stocks like Riot Platforms in their portfolio. It’s essential to note the widespread adoption of US spot bitcoin ETFs and their impact on institutional investment strategies.
Examining the Scope of 13F Reports
While 13F filings provide valuable insights into institutional investors’ stock holdings, they have limitations. Notably, 13F reports only cover long positions in US equities and equity options, excluding short positions from disclosure.
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