The State of Wisconsin Investment Board (SWIB) and others reported investments in spot Bitcoin ETFs.In a May 14 filing, SWIB disclosed 2.5 million shares of BlackRock’s IBIT worth $99.1 million and 1.0 million shares of Grayscale’s GBTC worth $63.7 million.The investment makes SWIB the second-largest holder of IBIT after Bracebridge Capital. SWIB is also the seventh largest GBTC holder, surpassed by others, including the largest holder, Susquehanna International Group (SIG).SWIB is an independent state agency responsible for managing the assets of the Wisconsin Retirement System, the State Investment Fund (SIF), and other state funds.Bloomberg ETF analyst Eric Balchunas noted that the investment is unusually early for its type, stating that “big fish institutions” usually wait about one year for ETFs to achieve greater liquidity.He added:“These are no ordinary launches … good sign, expect more, as institutions tend to move in herds.”Fintech investment management firm Titan Global Capital Management separately disclosed 1.6 million shares of IBIT worth $65.5 million in a filing on May 13.The investment makes Titan the fourth largest IBIT holder.Titan’s IBIT investment is also larger by dollar value than any other in its filing. The firm’s next largest investment is $37.6 million of Amazon (AMZN) shares.Elsewhere, the Ohio-based KeyBank National Association disclosed 3,723 shares of GBTC worth $235,182 in a May 14 filing. In 2021, KeyBank ranked among the 25 largest US banks.Each investment follows disclosures from other companies.Companies recently disclosed spot Bitcoin ETF investments include Symmetry Invest and Rubric Capital, JP Morgan and Wells Fargo, Hightower Investors and SouthState Bank, US Bancorp and Edmond De Rothschild Holding SA, and UBS and Multicoin Capital.Some companies have invested in spot Bitcoin ETFs other than IBIT and GBTC. However, the two funds are common investments. At least 317 firms have disclosed investments in IBIT, and at least 502 firms have disclosed investments in GBTC, according to Fintel data.IBIT and GBTC are the two largest spot Bitcoin ETFs by assets under management (AUM), with $17.2 billion and $18.3 billion in AUM, respectively.All ten active spot Bitcoin ETFs collectively have $52.8 billion of assets under management.Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI. Must-read crypto news & insights. Delivered daily.The S-1 filing follows the SEC’s approval of NYSE Arca’s proposed rule change on behalf of ProShares.Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely without first establishing a futures market or changing regulation.Ripple said Standard Custody CEO Jack McDonald would help the firm achieve its USD-backed stablecoin plans.The examinations will determine S&C’s awareness of FTX misconduct and potential conflicts during SBF’s Robinhood shares acquisition.Miller argued that the flagship crypto remains vastly undervalued and predicts a major shift in global capital governance.The report highlights significant gaps in law enforcement’s ability to track and recover illicit digital assets moved via privacy coins, layer-2 networks, and crypto mixers. DeFi Technologies recently adopted BItcoin as its primary treasury reserve asset.Japanese firm Metaplanet saw its stock surge 10% after its most recent Bitcoin acquisition.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
