Jaffe Tilchin Investment Partners was one of several companies that disclosed investments in spot Bitcoin ETFs on May 16.
The Florida-based investment manager and insurance services advisor revealed that it invested $11.3 million in spot Bitcoin ETFs in the first quarter, including $9.8 million in BlackRock’s IBIT and $1.6 million in Grayscale’s GBTC.
In addition, Nebraska-based investment advisor WealthPlan announced a $2.2 million investment in GBTC, while Skyview, a New Jersey-based investment advisor, announced a $1.3 million investment in GBTC.
Texas-based Comerica Bank reported $647,000 invested in four funds, including $361,395 in GBTC, $225,013 in IBIT, $33,219 in Ark’s ARKB and $28,051 in Fidelity’s FBTC.
Nearly 1,000 companies invested
The revelations follow investments from other notable companies, including major shareholders such as Millenium Management and Schonfield Strategic Advisors, as well as major global banks such as Morgan Stanley, JP Morgan Chase, Wells Fargo, BNP Paribas and UBS.
In total, nearly 1,000 companies have invested in spot Bitcoin ETFs since their launch in January.
K33 Research senior analyst Vetle Lunde reported that 937 professional firms invested more than $11 billion in U.S. spot Bitcoin ETFs during the first quarter.
Bloomberg ETF analyst Eric Balchunas published a similar estimate, stating that 929 institutions owned at least one spot Bitcoin ETF – while 414 investors owned BlackRock’s IBIT.
The SEC approved spot Bitcoin ETFs in January, making the first quarter the first time investors could purchase spot Bitcoin ETFs. The exception is GBTC, which was available before the conversion to an ETF.