New York City-based institutional investment firm Boothbay Fund Management becomes the largest holder in BlackRock iShares Bitcoin ETF (IBIT), Fidelity Wise Origin Bitcoin ETF (FBTC), and Bitwise Bitcoin ETF (BITB), as per a filing with the U.S. Securities and Exchange Commission (SEC) on May 15.

The fund also became one of the largest holders in Grayscale’s GBTC Bitcoin ETF with over $69 million in investment.

Boothbay Fund Management Pours $377 Million in Bitcoin ETFs

In a 13F-HR filing with the U.S. SEC, Boothbay Fund Management revealed a total of more than $377 million in investments in spot Bitcoin ETFs.

Boothbay Fund Management invested $149.80 million in BlackRock’s iShares Bitcoin ETF to become the largest holder of IBIT until now. Bracebridge Capital LLC and the State of Wisconsin Investment Board are the next two largest holders with $100 million and $99 million in investments, respectively.

Boothbay is also the largest holder of Fidelity Wise Origin Bitcoin ETF (FBTC). It invested $105.50 million to buy 1,700,000 shares of FBTC. Pine Ridge Advisers and Susquehanna International Group are the second and third-largest holders of IBIT with $93 million and $83 million, respectively.

The firm has also disclosed holdings in Bitwise Bitcoin ETF (BITB) and GBTC. It holds $52.25 million in BITB, becoming the largest holder in Bitwise Bitcoin ETF. Whereas, it bought 1,100,000 shares in GBTC worth $69.48 million. It is now the fifth-largest holder in GBTC.

Notably, BlackRock, Fidelity, and GBTC spot Bitcoin ETFs are the top three holdings of Boothbay Fund Management. The firm has also traded Coinbase, MicroStrategy, and Robinhood Markets shares in millions, as per the filing with the SEC.

Boothbay Fund ManagementBoothbay Fund Management
Source: SEC Filing


Also Read: Binance Launches Two New Services for Spot and Futures Trading

Bitcoin Price Recovers Amid Cooling CPI and Bitcoin ETF Inflow

The U.S. Spot Bitcoin ETFs have started the week on a positive note, while the momentum seems to be continuing. Notably, over the first two days of the week, the U.S. Spot Bitcoin ETF has noted a net inflow of nearly $170 million, after noting three days of outflow last week.

The U.S. Spot Bitcoin ETFs recorded an inflow of $100 million on May 14, renewing interest of traders in the crypto market.

BTC price hits $65,000 after the CPI inflation data came in cooler at 3.4% giving investors some respite. After the latest CPI data, the odds of rate cuts by the Federal Reserve are expected to begin in September.

The crypto trading volumes have also jumped in the last few days due to whale accumulation and spot Bitcoin ETF investments revealed by hedge funds and investment managers.

Also Read: Ripple Whales Scoop Up 110M XRP Amidst Ongoing SEC vs XRP Lawsuit

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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