Deltec Asset Management LLC has significantly ramped up its investment in the iShares Bitcoin Trust ETF (NASDAQ: IBIT), increasing its holdings by an impressive 77.9% during the third quarter of 2023. According to the latest filing with the SEC, the asset management firm now holds 93,650 shares of the ETF after acquiring an additional 41,000 shares throughout the quarter.
This increase marks a noteworthy expansion for Deltec, as the iShares Bitcoin Trust ETF now constitutes 1.0% of its overall investment portfolio, ranking it as the firm”s 25th largest holding. The total value of Deltec”s stake in the ETF stands at approximately $6,087,000 based on the most recent report.
Other institutional players have also shown interest in the iShares Bitcoin Trust ETF recently. For instance, Sachetta LLC reported a staggering 793.0% increase in its position during the third quarter, now owning 384 shares valued at $25,000 after a purchase of 341 additional shares. Similarly, Signature Resources Capital Management LLC raised its stake by 81.6% in the preceding quarter, holding 445 shares worth $27,000 after acquiring 200 more shares.
Moreover, RMG Wealth Management LLC entered the scene with a new investment in the ETF valued at $30,000 during Q2. JFS Wealth Advisors LLC made an even more remarkable move, boosting its position by 1,277.1% in the same quarter, resulting in ownership of 482 shares valued at $30,000 after purchasing 447 additional shares.
Roble Belko & Company Inc also increased its stake by 77.2% in Q3, now owning 459 shares worth $30,000 after acquiring 200 shares during the latest quarter.
As of the latest trading session, the iShares Bitcoin Trust ETF is trading down 0.7% at $51.16. The ETF has seen a one-year price range with a low of $42.98 and a high of $71.82. Its 50-day simple moving average stands at $52.06, while the 200-day simple moving average is at $60.33.
Launched on January 5, 2024, the iShares Bitcoin Trust ETF is an exchange-traded fund primarily focused on long positions in bitcoin while shorting USD currency. Issued by BlackRock, the fund aims to track the spot price of Bitcoin.
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