Four asset management companies have filed reports on investments in bitcoin through the Grayscale Bitcoin Trust (GBTC) with the US Securities and Exchange Commission (SEC).
The MacroScope Twitter channel dedicated to institutional trading and asset management reported that four firms reported their assets in GBTC for the period up to June 30, 2021.
Clear Perspective Advisors, an Illinois-based asset management company, said it owns 7,790 shares of GBTC.
Ancora Advisors, an Ohio-based company, acquired 13,945 shares of GBTC. This relatively small contribution for a firm that manages assets worth several billion dollars, however, is an important signal that indicates a long-term investment strategy.
Two more companies acquired GBTC during the reporting period up to June 30. Boston Private Wealth, which on March 31 reported owning 88,189 shares of GBTC, increased its investment to 103,469 shares. The Ohio-based firm Parkwood boosteits holdings has increased its stake from 93,000 to 125,000 shares.
Large companies are also finding other ways to gain access to cryptocurrencies. As reported by Hash Telegraph, tech giant Intel recently reported to the SEC about a significant position in Coinbase shares. As of June 30, 2021, the company owned Z014 shares of COIN (Coinbase) in the amount of $76,000.
This week, the capitalization of the cryptocurrency market has again returned to the level of $2 trillion. Yesterday, bitcoin rose above $48 thousand, while the realized capitalization of the main cryptocurrency reached a new historical maximum. Thus, now there is more capital in the bitcoin network than at the price of $64 thousand. All this indicates that the next phase of the bull cycle is gaining momentum and attracting institutional investors, who, most likely, will continue to increase their investments in bitcoin and other digital assets in the coming months.