Bitcoin

More Asset Management Companies Gain Access to Bitcoin via Grayscale, According to New SEC Filings

More Asset Management Companies Gain Access to Bitcoin via Grayscale, According to New SEC Filings

Image: procryptoru.ru

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.


Ohio-based Ancora Advisors has acquired 13,945 GBTC shares. While this is a small position for a multi-billion dollar asset manager, it represents an important strategic move given the company has a long-term investment perspective. Ancora Advisors serves seven states with a licensed staff of 18 advisors. The firm manages $6.2 billion and provides investment advisory services for 328 clients.


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.

© 2021, Eva Fox. All rights reserved.

_____________________________

We appreciate your readership! Please share your thoughts in the comment section below.

Article edited by @SmokeyShorts, you can follow him on Twitter


About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

Follow me on X

Reading next

Experience Driving By Starships At SpaceX’s Starbase Facility Through This Amazing 360-View Virtual Reality Video!
Tesla Model Y Joins Boulder, CO Sheriff's Office Fleet as Patrol Vehicle to Reduce Fuel & Maintenance Costs

Tesla Accessories