Hightower Advisors, a leading $130 billion asset management firm, has purchased $68 million worth of spot Bitcoin ETFs, according to a recent 13F SEC filing.
What Happened: This substantial investment underscores the growing institutional interest in Bitcoin (CRYPTO: BTC) as the cryptocurrency continues to make significant strides in the mainstream financial markets.
The breakdown of the investments is as follows:
- Grayscale BTC: $44,838,000 for 709,956 shares
- Fidelity Bitcoin ETF: $12,410,000 for 200,084 shares
- BlackRock Bitcoin ETF: $7,621,000 for 188,397 shares
- ARK Bitcoin ETF: $1,702,000 for 23,964 shares
- Bitwise Bitcoin ETF: $988,000 for 25,449 shares
- Franklin Templeton Bitcoin ETF: $788,000 for 19,129 shares
Hightower’s diverse allocation in various Bitcoin ETFs reflects a strategic approach to ...