The Grayscale Bitcoin Trust is Grayscale Investment’s star crypto investment fund as it is the favorite of institutional investors who want to gain exposure in the world of cryptocurrencies in a traditional way.
Grayscale Bitcoin Trustor GBTCis a traditional investment vehicle designed by the digital asset manager Grayscale Investmentwhich allows investors to own shares backed by Bitcoin (BTC)the cryptocurrency largest in the industry by market capitalization.
When investors buy shares in the Grayscale Bitcoin Trust they are not actually buying the cryptocurrency directly, so they do not have to worry about custody such as storage and security. This has made GBTC the preferred crypto investment vehicle for large institutional players, who seek to expose themselves to the potential of cryptocurrencies in a traditional and more reliable way, as evidenced by the recent filings of several companies with the United States Securities and Exchange Commission. States (SEC).
investment management companies Clear Perspective Advisors, Anchor Advisors, Parkwood LLC and Boston Private Wealth recently reported to the SEC about their holdings in Grayscale’s Bitcoin hedge fund. The first 2 companies informed the regulator of their entry into the GBTC, while the latter, Parkwood and Boston Private Wealth, reported the purchase of new shares within this crypto investment vehicle. In all cases, the growing interest of institutional investors in bitcoin as a long-term investment asset is evident.
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Bitcoin and institutional investment
The content broadcasting medium MacroScope informed through Twitter about the presentation of the companies Clear Perspective Advisors, Ancora Advisors, Parkwood LLC and Boston Private Wealth before the SEC.
In the first place, the media highlighted that the private investment firm Parkwood, based in Cleveland (Ohio – United States), reported 125,000 GBTC shares in a filing with the financial regulator as of June 30.
Parkwood had previously reported 93,000 shares in Grayscale’s bitcoin investment vehicle, so the increase for this month was 34%. The investment in Parkwood’s GBTC is around $4.79 million, based on the GBTC share price at press time. On the other hand, in addition to the investment in bitcoins, the firm also revealed its participation in the Grayscale Ethereum Trust (ETHE)where he owns a total of 189,275 shares, worth approximately $5.76 million.
The second company to declare GBTC shares was Ancora Advisors, which offers wealth and investment advisory services. this signature declared a total of 13,945 GBTC shares as of June 30. Ancora’s bitcoin investment is worth close to $535,000. Likewise, like Parkwood, Ancora Advisors also invested in Grayscale’s ETHE, with a stake of 2,647 shares, whose value is approximately $80,400.
GBTC shares, Tesla Visa and more
Clear Perspective Advisors, an Illinois-based wealth management firm, was the third to declare its stake in Grayscale’s bitcoin investment vehicle. This company declared a total of 7,790 GBTC shares, worth approximately $300,000 at press time.
Clear Perspective Advisors also has investments in other companies related to Bitcoin and cryptocurrencies, such as Tesla, Visa and VanEck, as well as banking groups interested in crypto assets and blockchain like Goldman Sachs and Bank of America.
The latest to declare cryptocurrency investments recently was private banking and trust firm Boston Private Wealth, which has a 103,469-share stake in GBTC as of June 30. Previously, Boston Private Wealth declared 88,189 GBTC shares, increasing its holding to 17%. The firm’s GBTC share value stands at $3.97 million at press time.
According to several experts, the crypto industry is increasingly filling up with institutional portfolios motivated by the potential for appreciation of crypto assets, as well as the confidence of a greater number of participants and, perhaps, the positive regulatory environment that lies ahead. What he claimed SEC Chairman Gary Gensler earlier this month, cryptocurrencies and digital assets could become widespread with the establishment of a solid regulatory framework that guarantees the protection of investors and their capital. In addition, there are those who believe that the possibility of being in a new bull cycle is also motivating institutional investors to participate and increase their exposure to bitcoin and other cryptocurrencies, such as Ethereum.
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