ChainCatcher report: Alex Thorn, Head of Research at Galaxy, stated that 13F filings for Bitcoin ETFs are still in early stages, as most large asset managers and registered investment advisers (RIAs) typically submit their filings before the November 16 deadline. However, some long-term capital has already increased its holdings in Bitcoin ETFs during the third quarter. Wealth management advisory firm SIGFIG Wealth Management filed its first such report, revealing that its clients increased their Bitcoin ETF holdings by approximately $730 million during the third quarter. A significant portion of the assets managed by SIGFIG comes from retail client accounts at banks including Wells Fargo, Citizens, Santander, and UBS.
Head of Galaxy Research: Long-Term Funds Add $73M to Bitcoin ETFs in Q3
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Summary
According to Galaxy Research Head Alex Thorn, long-term funds added $73 million to Bitcoin ETFs in Q3, as revealed in SIGFIG Wealth Management’s first 13F filing. Most major asset managers are expected to file by November 16. SIGFIG’s assets include retail accounts from major banks such as Wells Fargo and UBS. Bitcoin news underscores sustained institutional interest as ETF adoption continues to advance.
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