A new 13F filing with the SEC revealed that Texas-based wealth manager Quattro Financial Advisors has $19 million invested in BlackRock’s Bitcoin Spot ETF.
According to the filing, Quattro Financial Advisors held a total of 31 shares of BlackRock's Bitcoin spot ETF, called iShares Bitcoin Trust (IBIT), as of March 468.200.
As mentioned, the total shares held by the management company in this exchange-traded fund amount to approximately $19 million.
In this regard, Eric Balchunas, senior ETF analyst at Bloomberg, said that the investment made by Quattro Financial Advisors in the BlackRock fund is the largest in the fund to date.
Balchunas also indicated that, for the company, this investment represents 5% of its assets, being its third largest allocation of funds, after Microsoft and Invesco.
Source: X – @EricBalchunas
There are “plenty of fish” in BlackRock’s cash ETF
According to Balchunas, the 13F filings have so far revealed a total of 60 institutional investors in BlackRock’s cash fund. However, while this is a significant number, the allocations of these investors represent only a “small” percentage, at 0,4% of the fund’s total holdings.
To date, BlackRock's IBIT remains the largest of the new ETFs that were launched on the US market in January. This investment fund maintains a total of 272.844 BTC in assets under management, which are valued at over $17.000 billion based on the current Bitcoin price.
On the other hand, regarding management firms' allocations in spot ETFs, user @MacroScope17 commented that as May approaches, more companies and institutions will be disclosing their positions in IBIT and other Bitcoin ETFs.
Net flows of more than $15.000 billion
In just over 3 months, BlackRock’s iShares Bitcoin Trust has managed to position itself as one of the most important ETFs on the market, and not only in the Bitcoin ecosystem, but also in the traditional finance industry. According to the data, this cash fund has reached a figure of $15.300 billion in net inflows, ranking as the second ETF with the highest amount of total net inflows among all the ETFs that exist in the market.
In addition to this, IBIT also ranks among the top 15 ETFs in terms of consecutive net inflows. In this regard, Balchunas said that the BlackRock fund has been recording inflows for 67 consecutive days.
“The new nine (ETFs) have seen inflows of +$330 in the last 5 days with IBIT extending its inflow streak to 67 days which is a minor miracle,” said The analyst
Thus, despite the cooling of investor interest and the current correction in the price of Bitcoin, which is trading at around $63.000, market sentiment remains positive. The expert highlighted that, even with the price drop, Bitcoin is up 144% since BlackRock's ETF presentation in June last year, and 47% so far this year, which is 10 times the return that QQQ has seen in the same period. “If you are depressed with those returns, you should probably seek medical help,” the expert wrote on his X account.
BlackRock Educates on Bitcoin and Spot ETF
In order to increase investor awareness of Bitcoin and encourage interest, BlackRock has launched an initiative to educate investors about the cryptocurrency and its fundamental characteristics, as well as the importance of ETFs as investment vehicles that simplify entry into this innovation.
BlackRock's new educational initiative, called “Understanding Bitcoin ETFs”, consists of 4 videos available on its official website, which talk about Bitcoin ETFs, what drives cryptocurrency adoption, the importance of security, and what halving is.
Through this video series, the asset manager seeks to facilitate the understanding of Bitcoin as a global digital money, which is free of intermediaries and is a potential long-term store of value.
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