Asset managers gain exposure to Bitcoin through Grayscale, according to new SEC filings


New filings with the United States Securities and Exchange Commission (SEC) show that four asset management companies have acquired shares in the Bitcoin Investment Trust from Grayscale, providing further evidence of institutional acceptance of digital assets.

As first reported by MacroScope, a Twitter feed dedicated to institutional trading and asset management, the firms disclosed their GBTC holdings in new filings for the period ended June 30, 2021.

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Clear Perspective Advisors, an Illinois-based asset manager, announced Friday that it directly owns 7,790 GBTC shares.

Ohio-based Ancora Advisors acquired 13,945 GBTC shares as of June 30. While this is a small position for the multi-billion dollar asset manager, it reflects an important strategic move as the company has a long-term investment perspective.

Meanwhile, two other companies topped up their GBTC holdings for the June 30th reporting period. Boston Private Wealth, which reported 88,189 GBTC shares as of March 31, increased its exposure to 103,469 shares. Ohio-based manager Parkwood increases its holdings from 93,000 at the end of March to 125,000 shares.

Related: The GBTC premium is the same as Bitcoin’s crash level when the fear of unlocking subsides

Large companies are finding new and diverse ways to get involved with Bitcoin and other virtual assets. As Cointelegraph reported, tech giant Intel recently announced a sizeable position in Coinbase stocks that allows direct exposure to the digital currency market.

Institutions are likely to increase their exposure to digital assets in the coming months – assuming the bullish narrative continues. Many crypto watchers adhere to the four-year cycle theory, which seeks to explain and predict the price of Bitcoin from one cycle low to another. With the crypto asset class returning over $ 2 trillion this week – a $ 700 billion rebound from the local low – it appears that the next phase of the bull cycle is gaining momentum.

Related: Bitcoin’s off-chain data suggests stronger upward momentum in BTC price