Wisconsin Investment Commission, Titan Global invest in Spot Bitcoin ETF

The Wisconsin State Investment Board (SWIB) and others have reported investments in the Spot Bitcoin ETF.

In a May 14 filing, SWIB disclosed BlackRock’s 2.5 million IBIT shares worth $99.1 million and Grayscale’s 1 million GBTC shares worth $63.7 million.

With this investment, SWIB becomes IBIT’s second largest holder after Bracebridge Capital. SWIB is his seventh largest holder of GBTC, surpassed by other companies including the largest holder, Susquehanna International Group (SIG).

SWIB is an independent state agency responsible for managing the assets of the Wisconsin Retirement System, the State Investment Fund (SIF), and other state funds.

“Large financial institutions typically wait about a year for ETFs to become liquid,” said Eric Balciunas, an ETF analyst at Bloomberg, noting that the investment is unusually early for this type of investment. I’ll wait.”

he added:

“This is no ordinary launch… agencies tend to act in packs, so that’s a good sign. Expect more.”

Titan and Keybank invest

Fintech investment management firm Titan Global Capital Management separately disclosed 1.6 million shares of IBIT stock valued at $65.5 million in a May 13 filing.

This investment makes Titan the fourth largest IBIT holder.

Titan’s investment in IBIT is also larger than its other investments based on the amounts listed in the filing. The company’s next largest investment was $37.6 million in Amazon (AMZN) stock.

Elsewhere, Ohio-based KeyBank National Association disclosed 3,723 shares of GBTC worth $235,182 in a May 14 filing. In 2021, KeyBank was ranked the 25th largest bank in the United States.

Recent 13th floor filings

Each investment is made pursuant to disclosures from other companies.

Companies that have recently disclosed spot Bitcoin ETF investments include Symmetry Invest and Rubric Capital, JP Morgan and Wells Fargo, Hightower Investors and SouthState Bank, US Bancorp and Edmond De Rothschild Holding SA, and UBS and Multicoin Capital.

In addition to IBIT and GBTC, there are also companies investing in spot Bitcoin ETFs. However, the two funds share a common investment objective. According to Fintel data, at least 317 companies have disclosed his investments in IBIT and at least 502 companies have disclosed his investments in GBTC.

IBIT and GBTC are the two largest spot Bitcoin ETFs by assets under management (AUM), with AUM of $17.2 billion and $18.3 billion, respectively.

All 10 Active Spot Bitcoin ETFs collectively have $52.8 billion in assets under management.

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