Matt Hougan, CIO at spot bitcoin ETF issuer Bitwise, said the recently revealed bitcoin allocations of institutional investors from first-quarter 13F filings were just a “down payment.”
“The great promise of bitcoin ETFs is that they can open the door for professional investors to buy bitcoin en masse, dramatically increasing the pool of capital investing in the asset,” he added.13F filings are quarterly reports filed with the SEC by institutional investment managers with at least $100 million in equity assets under management. The filings provide a view of the manager's stock holdings at the end of each quarter.
Hougan also highlighted Hightower Advisors, the number two RIA firm in the U.S., owning $68 million worth of the spot bitcoin ETFs, as well as Cambridge Investment Research, Sequoia Financial Advisors, Integrated Advisors and Brown Advisory, with $40 million, $12 million, $11 million, $4 million allocations, respectively.
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