Boston Hedge Fund Holds Billions of Dollars in Bitcoin ETF!

Bittime - The crypto world has been shocked again by the news of massive ownership of a Bitcoin ETF (Exchange-Traded Fund) by a relatively little-known hedge fund. Bracebridge Capital, headquartered in Boston, United States, emerged as one of the largest holders of physical Bitcoin ETFs, with total holdings of hundreds of millions of US dollars.

Largest Holdings in BlackRock and Ark Invest/21Shares

Bloomberg ETF analyst Eric Balchunas, via a tweet on Twitter, revealed that Bracebridge Capital has Bitcoin exposure worth $363 million US dollars. This amount is divided into several ETFs, namely:

• BlackRock ($81 million)
• Grayscale ($20 million)
• Ark Invest/21Shares ($262 million)

"They [Bracebridge Capital] kind of went 'all out' buying [Bitcoin ETFs]," Balchunas wrote.

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Excluding market makers and authorized participants whose role is to maintain the accuracy of physical Bitcoin ETF prices through the creation and redemption of shares, Bracebridge Capital's holdings mark a "new high" in Bitcoin ETF holdings, according to Balchunas.

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Princeton University Philanthropic Institute and Yale University The World's Largest Women's Hedge Fund

Founded in 1994, Bracebridge Capital has estimated assets under management of approximately $12 billion US dollars, as stated on their jobs page. The firm, known as "silent," also manages funds from the philanthropic institutions of Princeton University and Yale University, and was said to be the largest hedge fund led by women in the world in 2016, according to a Bloomberg News report.

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Bracebridge Capital Ownership Details

• A holdings report filed with the United States Securities and Exchange Commission (SEC) in March showed that Bracebridge Capital had physical Bitcoin ETF holdings worth $434 million US dollars, excluding options.
• These holdings details were taken when the price of Bitcoin approached $72,000 US dollars in the first quarter of this year. Currently, the price of Bitcoin is around $62,700 US dollars.
• Beyond its largest holding in the $300 million Ark Invest/21Shares Bitcoin ETF, Bracebridge Capital also reportedly holds $100 million in the BlackRock Bitcoin ETF and $26.5 million in the Grayscale Bitcoin Trust.
• In addition to share ownership, Bracebridge Capital was also recorded as having options for the BlackRock Bitcoin ETF worth $284 million US dollars at that time.
• Excluding other Bitcoin ETFs, Bracebridge Capital's exposure to BlackRock products amounts to 47% of its total reported holdings

Bitcoin ETF Domination

Combined, Bracebridge Capital's reported Bitcoin ETF stock and options holdings amount to $718 million US dollars or about 88% of their total holdings. This figure shows the dominance of Bitcoin ETFs in Bracebridge Capital's investment portfolio.

Frequently Asked Questions About Bitcoin ETFs

1. Buy Bitcoin vs Spot Bitcoin ETF, Which is More Profitable?

2. Types of Bitcoin ETFs: Understanding the Variety of Investment Options

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Also read:

Buy Bitcoin vs Spot Bitcoin ETF, Which is More Profitable?

BlackRock Executive's Perspective On Bitcoin ETF: No Longer Excited?

How DTCC Rejected Bitcoin-Related ETF Guarantees: Impact on ETF and BTC Markets?

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.