Revealing the BTC Spot ETF Holding Institutions: Rothschild and JPMorgan Fail to Make the Top Ten, Who is in First Place?

Author: Fu Ruo He, Odaily Planet Daily

2024 marks the inaugural year of traditional financial capital flowing into the crypto world, thanks to the launch of the Bitcoin spot ETF at the beginning of the year. As of today, SoSoValue data shows that the cumulative inflow into Bitcoin spot ETFs has reached $11.67 billion, with a total net asset value of $50.54 billion.

In the four months since its launch, the Bitcoin spot ETF has driven the highest increase in the crypto market cap by 64.93%, peaking at $28.45 trillion, and has directly contributed to a 59.25% increase in Bitcoin's market cap.

As institutional investors gradually submit 13F (institutional holding report) filings to the U.S. SEC disclosing their holdings in Bitcoin ETFs, the astonishing purchasing power behind Bitcoin spot ETFs is unveiled. Odaily Planet Daily has compiled the holding situations of related companies and found that asset management companies have become the "main force" behind BTC spot ETFs. As follows:

Susquehanna International Group (SIG) ($1.3 billion)

Susquehanna International Group (SIG) is a financial services company based in the United States, headquartered in Bala Cynwyd, Pennsylvania. Founded in 1987 by Jeff Yass, Arthur Dantchik, and Joel Greenberg, SIG operates globally across various sectors, including securities trading, options trading, futures trading, derivatives trading, asset management, and private equity investment. SIG is known for its specialization and technological prowess in the financial markets and is considered one of the largest quantitative trading firms in the world.

SIG has purchased $1.3 billion worth of spot Bitcoin ETFs, which is only a small portion of the company's total investment of $575.9 billion.

Ovata Capital ($74 million)

Ovata Capital is an investment management company based in Hong Kong, established in 2017. The flagship product of Ovata Capital is the Ovata Equity Strategies Master Fund, focusing on Asian equities, which includes four core strategy components: arbitrage, relative value, event-driven, and long/short.

Ovata Capital has heavily invested in U.S. Bitcoin spot ETFs, including FBTC, GBTC, BITB, and IBIT, which account for 13.5%, 11.2%, 8.8%, and 5.6% of its portfolio, respectively, with a total value exceeding $74 million.

Hightower ($68.34 million)

Hightower is a global wealth management company based in the United States, providing comprehensive financial planning, investment management, and asset management services. The company's clientele includes individual investors, family offices, corporate clients, and charitable organizations.

Hightower has purchased over $68.34 million worth of U.S. Bitcoin spot ETFs, which represents less than 0.1% of its total investment of $61.7 billion.

Rubric Capital Management ($60 million)

Rubric Capital Management is an investment management company based in the United States, founded in 2011. The company focuses on equity investments and is known for implementing long-term value investment strategies.

With assets under management of $3.3 billion, Rubric Capital Management holds over $60 million in BlackRock's Bitcoin spot ETFs.

Yong Rong Asset Management ($38 million)

Yong Rong Asset Management is an asset management company based in Hong Kong. The company focuses on providing comprehensive investment management services to clients across various asset classes, including equities, bonds, and derivatives.

Yong Rong Asset Management has purchased approximately $38 million worth of IBIT, accounting for 12% of its portfolio, making it the largest holder of BlackRock's Bitcoin spot ETF.

United Capital Management ($34.91 million)

United Capital Management is a comprehensive wealth management company headquartered in the United States. The company offers a wide range of financial planning and investment management services.

United Capital Management holds over 350,000 shares of FBTC and 410,000 shares of BITO, accounting for 4.9% and 3% of its latest portfolio, respectively, with a total value of approximately $34.91 million. United Capital Management is one of the significant shareholders of Fidelity's FBTC.

Legacy Wealth Asset Management ($28.5 million)

Legacy Wealth Asset Management is a comprehensive wealth management company dedicated to providing clients with comprehensive financial planning and investment management services. The company's headquarters is likely in the United States and has previously acquired Autohome.

Legacy Wealth Asset Management holds over 350,000 shares of FBTC, accounting for 6.09% of its latest portfolio, as well as over 100,000 shares of GBTC, accounting for 1.84%, with a total value exceeding $28.5 million.

Monolith Management ($24 million)

Monolith Management, founded by former Sequoia China partner Cao Xi, is an investment management company focused on growth companies in public and private markets. Its main investment directions include technology, software, consumer, and healthcare sectors.

Monolith Management holds over $24 million in IBIT, ranking fifth in holdings of BlackRock's ETFs.

IvyRock Asset Management ($19 million)

IvyRock Asset Management is a hedge fund management company based in Hong Kong. The company manages various funds through its asset management business.

IvyRock Asset Management holds nearly $19 million in BlackRock's spot Bitcoin ETF IBIT.

Quattro Financial Advisors ($16.5 million)

Quattro Financial Advisors is a family office. The company provides portfolio management, financial planning, and investment consulting services. Quattro Financial Advisors serves clients in the United States.

Quattro Financial Advisors is the second-largest holder of BlackRock's Bitcoin spot ETF, holding 468,000 shares of IBIT, valued at approximately $16.5 million, accounting for 5.4% of its portfolio.

U.S. Bancorp ($15 million)

U.S. Bancorp is a bank holding company in the United States and the parent company of U.S. Bank National Association, the fifth-largest bank in the U.S., with over 3,000 branches primarily located in the western and midwestern United States.

U.S. Bancorp disclosed investments in spot Bitcoin ETFs valued at over $15 million. It is reported that it purchased approximately 87,744 shares of Fidelity's FBTC stock, valued at $5.4 million, 46,011 shares of Grayscale's GBTC stock, valued at $2.9 million, and 178,567 shares of BlackRock's IBIT stock, valued at $7.2 million. According to the latest 13F filing, the company's total investments amount to $71.8 billion.

Oxler Private Wealth ($11.24 million)

Oxler Private Wealth is an investment platform. The platform provides relevant information only. Consulting services are offered only to clients or potential clients of Oxler Private Wealth LLC and its representatives who are legally licensed or exempt from licensing.

Oxler Private Wealth holds 280,000 shares of IBIT, valued at approximately $11.24 million, accounting for 4.4%.

Edmond de Rothschild Holding S.A ($4.2 million)

Edmond de Rothschild Holding S.A provides a variety of wealth management services for private and institutional clients.

Edmond de Rothschild (Suisse) S.A disclosed investments in spot Bitcoin ETFs valued at over $4.2 million. The company reported holding 103,600 shares of BlackRock's IBIT stock, valued slightly below $4.2 million. It also disclosed 1,300 shares of GBTC stock, valued at $82,121. According to the latest 13F filing, the company's total investments amount to $6 billion.

Newbridge Financial Services Group ($1.34 million)

Newbridge Financial Services Group offers a wide range of products, services, and solutions to help clients achieve unique financial services.

Newbridge Financial Services Group has assets exceeding $340 million and holds approximately 20,000 shares of GBTC, valued at about $1.34 million, accounting for only 0.58% of its $230 million portfolio.

Bank of New York Mellon ($1.113 million)

Bank of New York Mellon is a bank located in New York City, USA. Its main business includes securities services and asset management. It holds 19,918 shares of IBIT and 7,108 shares of GBTC, currently valued at approximately $1.113 million.

JPMorgan Chase & Co ($760,000)

JPMorgan Chase & Co, commonly known as "JPM," is a financial institution headquartered in New York City, USA. Its commercial banking division has 5,100 branches. In October 2011, JPMorgan's asset size surpassed that of Bank of America, making it the largest financial services institution in the United States. JPMorgan's operations span over 50 countries, including investment banking, securities trading and services, investment management, commercial banking services, and private banking services.

JPMorgan disclosed holdings valued at approximately $760,000 in ProShares BITO, BlackRock IBIT, Fidelity FBTC, Grayscale GBTC, and Bitwise BITB shares.

SouthState ($557,200)

SouthState is one of the leading regional banks in the southeastern United States, serving over one million customers through more than 240 branches in Florida, Alabama, Georgia, the Carolinas, and Virginia. SouthState offers comprehensive banking solutions, including personal banking, mortgages, small business banking, commercial banking, and wealth management.

SouthState disclosed investments in two spot Bitcoin ETFs, totaling $577,198, which represent only a small portion of its reported total of $1.3 billion.

BNP Paribas ($40,000)

BNP Paribas is a world-class financial group headquartered in Paris, France, and is the largest bank in France, with the largest deposits in the Eurozone, and one of the largest banks in the world, ranking among the top four systemically important financial institutions.

BNP Paribas purchased 1,030 shares of IBIT, valued at approximately $40,000.

Wells Fargo & Co (undisclosed)

Wells Fargo & Co, founded in 1852 in New York, is a diversified financial group with total assets of $1.9 trillion. Wells Fargo, along with JPMorgan, Bank of America, and Citigroup, is one of the four largest banks in the United States.

According to the latest disclosures from the U.S. Securities and Exchange Commission, Wells Fargo has exposure to spot Bitcoin ETFs.