Pine Ridge Advisers Invests $205 Million in U.S. Bitcoin ETFs
Discover how Pine Ridge Advisers recently invested $205 million in major U.S. Bitcoin spot ETFs, showcasing the rise in institutional demand for cryptocurrency.
The Rise of Institutional Interest in Bitcoin
Explore how various entities like banks, corporations, and local governments in the U.S. are legally acquiring Bitcoin through financial instruments, indicating a growing acceptance and curiosity about BTC among traditional financial institutions.
Pine Ridge Advisers Allocation Breakdown
- 23% of $890 million capital invested in Bitcoin-related funds
- $93.38 million in Fidelity Wise Origin Bitcoin Fund (FBTC)
- $83.17 million in BlackRockβs iShares Bitcoin Trust (IBIT)
- $3.42 million in Bitwise Bitcoin ETF (BITB)
- Remaining funds diversified into other equities
“Pine Ridge Advisers owns $205m of $IBIT $FBTC and $BITB, accounting for 23% of their total AUM. Likely some kind of arb trade though vs. say an RIA putting 1/4 of grandmaβs portfolio in BTC.” – Bloomberg ETF analyst Eric Balchunas
Signs of Growing Institutional Demand
Learn more about Pine Ridge Advisers’ involvement in managing account investments starting at $50 million for retail investors across various industries such as financials, materials, communications, and more.
Flow of Funds into Bitcoin Spot ETFs
- Over $166 million flowed into US Bitcoin spot ETFs on May 13 and 14
- Major inflows witnessed in Grayscale, BlackRock, Fidelity, Ark 21Shares, Bitwise, and VanEck ETFs
- Biggest outflow recorded on May 10 with $84.70 million exiting
Bitcoin Price Movement
Discover how the BTC price surged by nearly 7% on May 15 following the release of inflation data in the United States, indicating the impact of macroeconomic factors on cryptocurrency prices.
Diverse Adoption of Bitcoin
- Companies, billionaires, and even states like Wisconsin investing in BlackRockβs iShares Bitcoin Trust (IBIT)
- Wisconsin’s investment of $99 million through The State of Wisconsin Investment Board (SWIB) points towards broader institutional adoption of BTC
Hot Take: Embracing Institutional Investments in Bitcoin
Discover the increasing trend of institutional investors like Pine Ridge Advisers venturing into the cryptocurrency space, signaling a shift towards mainstream acceptance and adoption of Bitcoin.
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