Bracebridge Capital: Great Spot Bitcoin ETF Investor
Date: 2024-05-15 Author: Henry Casey Categories: BUSINESS
US-based hedge fund Bracebridge Capital has confirmed its leadership in spot Bitcoin ETF investments by filing Form 13F with the SEC.
Investments in Cryptocurrency Funds
The fund announced investments in three key spot Bitcoin ETFs during the first quarter of 2024, allocating more than 86% of its portfolio to these securities. The total investment amounted to about $434 million.
Basic Investments
According to the report, Bracebridge Capital is the largest shareholder of ARK 21Shares Bitcoin ETF (ARKB) and iShares Bitcoin Trust (IBIT). He also invested in the Grayscale Bitcoin Trust ETF (GBTC), confirming his position as a key player in the market.
Evaluation of Investment Actions
Bloomberg Intelligence analyst Eric Balchunas emphasized the significance of the data, highlighting Bracebridge Capital's influence on the spot Bitcoin ETF sector. Other experts, however, note that these types of investments may be part of an institutional portfolio strategy rather than indicating specific trends in market movements.
