Fiduciary Family Office LLC has recently made a significant investment in the iShares Bitcoin Trust ETF (NASDAQ: IBIT), according to its latest 13F filing with the SEC. During the third quarter, the firm acquired 11,800 shares of the ETF, with a total valuation of approximately $767,000.
This move comes amid a growing trend of institutional interest in Bitcoin-related investment vehicles. Other firms have also adjusted their positions in IBIT. Notably, Sachetta LLC has dramatically increased its holdings in the Bitcoin ETF by 793.0% during the same period, bringing its total to 384 shares valued at $25,000 after purchasing an additional 341 shares.
Furthermore, Signature Resources Capital Management LLC raised its stake by 81.6% in the second quarter, now holding 445 shares worth $27,000 after acquiring 200 additional shares. Similarly, RMG Wealth Management LLC entered a new position in IBIT, valued at approximately $30,000 in the second quarter.
Other notable transactions include Roble Belko & Company Inc., which increased its position by 77.2% during the third quarter, now owning 459 shares valued at $30,000 after an additional 200 shares acquisition. Additionally, JFS Wealth Advisors LLC raised its stake in IBIT by an astounding 1,277.1% in the second quarter, now holding 482 shares worth $30,000 after acquiring 447 shares.
As for the performance of the iShares Bitcoin Trust ETF, shares opened at $54.24 on Friday. The ETF has experienced a 52-week low of $42.98 and a high of $71.82, with its 50-day moving average at $51.59 and a 200-day average at $60.09.
Launched on January 5, 2024, the iShares Bitcoin Trust ETF is a passively managed fund designed to track the spot price of Bitcoin. Issued by BlackRock, it primarily invests in long positions on Bitcoin while shorting USD currency.
As institutional investors continue to show confidence in Bitcoin through ETFs, the landscape for cryptocurrency investments appears to be evolving, potentially paving the way for further institutional engagement in the crypto sector.
