There are hidden giants investing in Bitcoin ETFs – bit by bit

Bit-a-bit executives have secret information about massive financial players who are investing in BTC, but won’t specify which ones.

During an interview published Tuesday, Bitwise CEO Hunter Horsley discussed how institutional and regulatory acceptance of Bitcoin as an investable asset is evolving faster behind the scenes than most realize.

The Secret Bitcoin Shoppers

On the one hand, Horsley confirmed what he had hinted at in an earlier tweet: that a nation’s sovereign wealth fund has already entered Bitcoin mining.

“A remarkable component of the moment is that there are so many investors, businesses and major companies that are moving into Bitcoin, but many of them want to fly under the radar for now,” Horsley explained.

Horsley also eluded a “big tech company” that has invested a “significant percentage” of its balance sheet in the Bitwise Bitcoin ETF, which now has $2.3 billion in assets under management. This company wants to remain private about its purchase.

“If people knew that, I think it would be very impactful and help people see that the world is moving in one direction, and it’s moving faster and farther than a lot of people realize,” he said. continue

The public got a partial look at which institutions were buying Bitcoin ETFs earlier this month, as many high-net-worth investors disclosed their first-quarter holdings in mandatory 13F filings with federal regulators . Some include a $2 billion allocation from heavyweight hedge fund Millennium Management and a $162 million allocation from the State of Wisconsin Investment Board (SWIB).

How quickly will companies buy Bitcoin?

Horsley predicted that next year, a giant tech company like Meta could put Bitcoin on its balance sheet, thanks to ETFs that make the asset much easier to hold.

The next catalyst for Bitcoin’s bull market, he claimed, will be when the public realizes “how much some of the biggest and smartest organizations and lawmakers are on board with Bitcoin.”

“When we get these announcements and people see it … it will allow things to move much faster than in the past when there were fewer examples,” he concluded.

In a note last week, Bitwise CIO Matt Hougan said the latest wave of 13F filings had him “incredibly bullish” on Bitcoin ETFs, given that their last buyers still have substantial room to raise their assignments.

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