Deltec Asset Management LLC has made a significant move by acquiring a total of 158,500 shares of the iShares Ethereum Trust ETF (NASDAQ: ETHA) during the third quarter, as disclosed in its latest 13F filing with the Securities and Exchange Commission (SEC). This acquisition is valued at approximately $4,994,000, and represents about 0.8% of Deltec”s investment portfolio, positioning it as the firm”s 28th largest holding.
As of the most recent SEC filing, Deltec Asset Management owned approximately 0.09% of the iShares Ethereum Trust ETF. This purchase aligns with a broader trend of institutional investors increasing their stakes in cryptocurrency-related assets. Notably, other hedge funds have also been adjusting their positions in this ETF. For example, Capula Management Ltd significantly increased its stake by 195.5% during the second quarter and now holds 5,354,800 shares valued at $102,116,000 after acquiring an additional 3,542,508 shares. Furthermore, several other firms, including BlueCrest Capital Management Ltd and Clear Street LLC, have made noteworthy purchases during the same period, indicating a growing institutional appetite for Ether-based investments.
In terms of performance, the iShares Ethereum Trust ETF opened at $23.19 on Friday. Over the past year, it has experienced fluctuations, hitting a low of $10.99 and a high of $36.80. Currently, its 50-day simple moving average stands at $23.35, while the 200-day simple moving average is at $27.34.
Launched on July 24, 2024, the iShares Ethereum Trust ETF, issued by BlackRock, primarily invests in long positions in Ether while taking short positions in USD currency. The fund is designed to passively track the spot price of Ether, minus expenses and fees. As institutional interest continues to build, the ETF could play a critical role in facilitating greater access to Ethereum for a wider range of investors.
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