Institutional interest in Bitcoin exchange-traded funds (ETFs) continues to grow, with major U.S. investment banks like Goldman Sachs and Morgan Stanley significantly expanding their holdings.
In its latest SEC filing, Goldman Sachs disclosed substantial holdings in BlackRock’s iShares Bitcoin ETF (IBIT), valued at $238.7 million, along with significant investments in the Fidelity Wise Bitcoin ETF (FBTC), Invesco Galaxy Bitcoin ETF (BTCO), and Grayscale Bitcoin ETF (GBTC). Goldman Sachs also holds smaller stakes in ETFs from Ark 21Shares, Bitwise, and WisdomTree.
Meanwhile, Morgan Stanley reported holding $187 million in BlackRock’s iShares Bitcoin Trust (IBIT) as of June 30. This positions the bank among the top IBIT investors, alongside Millennium Management and Capula Management.
In a further move to integrate Bitcoin ETFs into its offerings, Morgan Stanley recently allowed its 15,000 financial advisors to recommend spot Bitcoin ETFs to select wealthy clients starting August 7. Approved products include BlackRock’s IBIT and Fidelity’s Wise Origin Bitcoin Fund (FBTC).
However, this move has raised concerns among regulators. John Reed Stark, a former SEC official and known crypto skeptic, warned that Morgan Stanley might face strict scrutiny from regulatory bodies like the SEC and FINRA due to this initiative.
Bitcoin ETFs Hold 4% of BTC Supply
The growing interest in Bitcoin ETFs has had a significant impact on the market. As of August 12, the combined holdings of all U.S. spot Bitcoin ETFs reached approximately 879,199 BTC, representing about 4.19% of the total Bitcoin supply.
This figure is quickly approaching the estimated 1.1 million BTC held by wallets associated with Bitcoin’s creator, Satoshi Nakamoto.
Since their launch, Bitcoin ETFs have attracted net inflows of $17.4 billion, with an average daily inflow of $117 million. If this trend continues, Bitcoin ETFs could surpass Nakamoto’s holdings within the next six months.
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