New documents filed with the US Securities and Exchange Commission (SEC) show that four asset management companies have acquired shares of the Grayscale Bitcoin Trust (GBTC), which is clear evidence of institutional acceptance of digital assets.
MacroScope/Twitter drew attention to the fact that the applications to the SEC of several asset management companies contain a statement that they have bought GBTC shares. Four firms reported this in their reports for the reporting period ending June 30, 2021.
Clear Perspective Advisors, an Illinois-based asset manager, disclosed ownership of 7,790 GBTC shares. The company is an SEC-registered investment adviser that provides individual and institutional clients with comprehensive financial planning strategies, investment advice, asset allocation, and portfolio construction recommendations.
In an SEC filing today, Clear Perspective Advisors, a wealth management firm in Aurora, Illinois, reported owning 7,790 shares of Grayscale Bitcoin as of June 30.— MacroScope (@MacroScope17) August 13, 2021
BTC institutional watch:— MacroScope (@MacroScope17) August 13, 2021
In a filing today, Ancora Advisors, based in Cleveland, reported 13,945 shares of Grayscale BTC as of June 30.
Tiny position for a big firm, but Ancora is a smart long-term shop. Worth watching in coming quarters.
In addition, during the reporting period ending June 30, GBTC added two more firms to its assets. Boston Private Wealth, which previously reported 88,189 GBTC shares as of March 31, increased its positions to 103,469 shares. Parkwood, from Ohio, increased its holdings to 125,000 shares from 93,000 at the end of March.
Large firms are finding new and varied ways to access Bitcoin and other virtual assets. The general trend suggests that investment firms will increase their exposure to digital assets in the near future, provided the bullish narrative continues to evolve.
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