Well, well, well. It looks like Avenir Group has gone all-in on Bitcoin, adding a casual $599 million to their Bitcoin stash. Because, you know, why not throw your money at the digital gold rush while everyone else is doing it too? They’ve made a big bet on BlackRock’s iShares Bitcoin Trust, which, by the way, now manages a cool $56 billion. Just pocket change, really.
This little nugget of information came to light in Avenir’s latest 13F filing. If you’re not familiar, that’s the public document where institutional investors air their dirty laundry—revealing their asset positions and valuations. Basically, it’s like peeking into someone’s Amazon shopping cart but for billion-dollar firms. The timing is almost poetic, though, as this surge in Bitcoin ETF holdings aligns perfectly with the rocket-like growth of IBIT.
And, because Avenir is nothing if not thorough, they also disclosed a tiny little $4.2 million stake in Fidelity’s Wise Origin Bitcoin Fund. I mean, who wouldn’t want to own 52,544 shares of something that’s as volatile as your cousin’s emotional state after one too many drinks at family dinner?
If you’re wondering who Avenir Group is, don’t worry. They’re one of those fancy “institutional family offices” who think it’s fun to invest in emerging tech through financial innovation. They’ve got offices in Hong Kong, the U.S., the U.K., Japan, and Singapore. All the places that make you feel slightly more important just by being associated with them. They’re into all kinds of multi-asset class, multi-strategy investments that range from traditional finance to digital assets. Because why settle for one kind of money when you can have them all?
Following Barclays’ Lead (Because Who Doesn’t Want to Be Like Barclays?)
And in case you thought this was a one-off, enter Barclays. That’s right, the British institution with a penchant for acquiring things has picked up 2,473,064 IBIT shares. The Brits are officially in on the Bitcoin ETF game, folks. This move came in the fourth quarter of 2024, probably during a post-election Bitcoin price surge, which was—surprise, surprise—spurred by none other than former U.S. President Donald Trump’s mysterious pro-Bitcoin stance. Politics aside, this surge has sent institutional players like Barclays, Goldman Sachs, and JP Morgan flocking to the crypto side, where the grass is greener (or maybe just digital and confusing).
In short, we’re all just waiting for the next big institutional move in the Bitcoin ETF game. If you’re not already knee-deep in this, well, better luck next time. But at least you can take solace in the fact that Avenir and Barclays are probably laughing their way to the digital bank while the rest of us try to figure out how Bitcoin works.
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2025-02-14 23:52