Without new liquidity, BTC ETF deposits, withdrawals, and holdings will determine the future.
The optimism that the U.S. could cut interest rates later this year, or even sooner, due to the CPI results has given Bitcoin some hope that it could bring liquidity to the market. Unlike just a day ago. However, BTC ETFs seem to be the only entity that will provide this liquidity, so investors will benefit from keeping an eye on their movements as the most important indicator at the moment.
According to Cryptoslate, US hedge fund Schonfeld Strategic Advisors has revealed in a 13F filing with the US Securities and Exchange Commission (SEC) that it owns a total of $4.79 billion worth of Bitcoin spot ETFs. Specifically, the firm holds $248 million in BlackRock IBIT and $231 million in Fidelity FBTC. More funds are expected to disclose their BTC spot ETF holdings when their 13F filings are due on Nov. 15 (local time).
In other news, New York-based hedge fund Boothbay Fund Management LLC disclosed in its latest 13F filing with the U.S. Securities and Exchange Commission (SEC) that it owns approximately $150 million worth of shares of BlackRock's Bitcoin spot ETF IBIT.
Morgan Stanley's choice is GBTC. Morgan Stanley filed a 13F report with the U.S. Securities and Exchange Commission (SEC), disclosing that it holds $2.7 billion worth of Grayscale Bitcoin Spot ETF GBTC, according to Cryptoslate.
On the other hand, Salim Ramji, BlackRock's global head of ETF and index investing, who is set to become Vanguard's new CEO, told CoinDesk that Vanguard has no plans to launch a BTC spot ETF. “I think it's important for firms to be consistent in their product and service offerings,” he said, echoing his predecessor's stance. Previously, in March, Vanguard's current CEO Tim Buckley said, “We have no plans to offer a BTC spot ETF. It's not part of our long-term portfolio and it's not a store of value.”
