In a significant move within the cryptocurrency investment landscape, Deltec Asset Management LLC has raised its stake in the iShares Bitcoin Trust ETF (NASDAQ:IBIT) by an impressive 77.9% during the third quarter of 2023. According to reports from Holdings Channel.com, the firm now owns 93,650 shares after acquiring an additional 41,000 shares in this period.
This substantial investment represents approximately 1.0% of Deltec Asset Management”s total portfolio, making the iShares Bitcoin Trust ETF its 25th largest holding. As of the conclusion of the most recent reporting period, these holdings were valued at $6,087,000.
Deltec is not alone in its bullish stance on the iShares Bitcoin Trust ETF. Other institutional investors have also been active, with Phillips Financial Management LLC increasing its position by 55.4%, now holding 10,143 shares valued at $659,000 following the purchase of an additional 3,614 shares. Similarly, CORDA Investment Management LLC raised its holdings by 16.6%, now owning 26,642 shares worth $1,732,000 after acquiring an extra 3,789 shares.
Interestingly, Sachetta LLC made a notable leap, boosting its position by a staggering 793.0%, bringing its total to 384 shares valued at $25,000 after adding 341 shares. Additionally, ORG Partners LLC saw a modest increase of 2.9%, now owning 14,712 shares valued at $956,000.
As of Friday, the iShares Bitcoin Trust ETF traded at $51.16, with a 12-month low of $42.98 and a high of $71.82. The ETF has recently shown a 50-day simple moving average of $52.06, alongside a 200-day simple moving average of $60.33.
The iShares Bitcoin Trust ETF, launched on January 5, 2024, is a passively managed fund that primarily invests in Bitcoin, aiming to track its spot price. Issued by BlackRock, this ETF exemplifies the growing institutional interest in Bitcoin and cryptocurrency assets.
For those looking to track the latest developments and holdings in the iShares Bitcoin Trust ETF, HoldingsChannel.com offers updated 13F filings and insider trades related to the fund.
