currencyjournals — Goldman Sachs and Morgan Stanley invested greater than $600 million in spot exchange-traded funds (ETFs) within the second quarter of 2024, in line with regulatory filings revealed Wednesday.

This submitting, generally known as a 13-F, supplies info on institutional traders' holdings on the finish of every quarter.

Goldman Sachs reported buying roughly $418 million in numerous bitcoin ETFs. The majority of this funding is in BlackRock's (NYSE:) iShares Bitcoin Belief (NASDAQ:), which had about 7 million shares value roughly $238 million as of June 30.

IBIT is the biggest spot Bitcoin ETF by market cap, with $20 billion in belongings underneath administration.

The financial institution additionally has investments within the FidelityWise Origin Bitcoin ETF, the Invesco Galaxy Bitcoin ETF (NYSE:), and has small investments in different Bitcoin ETFs that launched earlier this yr.

Morgan Stanley can be a supporter of BlackRock's Spot Bitcoin exchange-traded fund (ETF). As of June 30, the funding financial institution held greater than 5.5 million shares within the iShares Bitcoin Belief, valued at almost $188 million, making it one of many ETF's prime 5 shareholders.

Morgan Stanley held small quantities of the ARK 21Shares Bitcoin ETF (NYSE:) and Grayscale Bitcoin Belief (NYSE:). Most notably, the financial institution considerably lowered its GBTC holdings, decreasing them to about $148,000 in its newest submitting, down from $269.9 million within the earlier quarter.

Neither Goldman Sachs nor Morgan Stanley would disclose whether or not the positions have been taken on behalf of shoppers or for their very own accounts.

Whereas these filings counsel rising institutional curiosity in Bitcoin ETFs, ETF issuers say regulated cryptocurrency merchandise have been primarily dominated by retail traders.

A number of hedge funds adjusted their bitcoin ETF holdings through the quarter. New York-based Searching Hill International Capital lowered its publicity to the Grayscale and Constancy ETFs, however took an $18.32 million stake within the Bitwise Bitcoin ETF (NYSE:) and added a brand new $25.6 million place within the BlackRock ETF.

One other New York-based hedge fund, Millennium Administration LLC, lowered its whole holdings in its Bitcoin ETF to $1.15 billion by the tip of June from $2 billion within the first quarter, whereas rising its holdings within the Bitwise ETF.