Vanguard, BlackRock up MSTR holdings, while TradFi firms continue disclosing Bitcoin ETF investments

Vanguard and BlackRock increased their stakes in MicroStrategy Holdings (MSTR) on May 10.

Vanguard owns 1.6 million shares of MSTR worth $2.6 billion at the end of the first quarter, compared to 1.2 million shares worth $727.6 million at the end of December 2023.

BlackRock now owns 1.2 million shares worth $2.1 billion, compared to 1.0 million shares worth $646.4 million at the end of the last quarter.

Numerous other companies have also invested in MSTR, which offers exposure to Bitcoin through its own Bitcoin investments. Fintel data shows that at least 750 companies have invested in MSTR.

MicroStrategy itself has taken steps to increase its Bitcoin holdings. The company reported that it purchased $1.65 billion worth of BTC in the first quarter, bringing its total holdings to 214,400 BTC. The company maintains its position as the publicly traded company with the most Bitcoin.

Other Bitcoin ETF Registrations

Meanwhile, 13F’s revelations continue to reveal growing TradFi investments in spot Bitcoin ETFs.

Swiss bank UBS invested $145,692 in BlackRock’s IBIT on May 13. Other Global Systemically important Banks (G-SIBS), including JP Morgan, Wells Fargo and BNP Paribas, have similarly reported spot Bitcoin ETF investments in the first quarter.

Wolverine Asset Management, an alternative investment firm, announced that it is one of the largest holders of Fidelity’s FBTC, investing $54 million in the ETF in the first quarter. Meanwhile, fintech firm Envestnet reported a $62 million investment in spot Bitcoin ETFs, including FBTC, GBTC, ARKB, IBIT and BITB.

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Crypto and blockchain investment firm Multicoin Capital reported an $83.5 million investment in Grayscale’s GBTC. Multicoin’s only other 13F reported investment is in Coinbase (COIN) stock, worth $217 million, for a total of $300 million according to the latest 13F filing.

The investment makes Multicoin Capital one of the largest GBTC holders. In earlier filings, Susquehanna International Group and Horizon Kinetics Asset Management reported larger investments, valued at $1.1 billion and $540 million, respectively.

Spot Bitcoin ETFs collectively reported $52.4 billion in assets under management (AUM) on May 13 and $11.7 billion in cumulative inflows on May 10.

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