Edge Wealth Management Increases Bitcoin Exposure By Over 40%

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Edge revealed that he held 54,134 shares of Grayscale Bitcoin Trust in a filing with the SEC, an increase of over 40% from last quarter.

Edge Wealth Management disclosed ownership of 54,134 shares of Grayscale Bitcoin Trust (GBTC) in a Filing of form 13F-HR with the United States Securities and Exchange Commission (SEC), representing a 43.95% increase of the 37,605 shares it held in April.

GBTC has become a popular investment vehicle among institutions to gain indirect exposure to bitcoin. Confidence, which could turn into an exchange traded fund (ETF) soon, tries to track the market price of bitcoin, minus fees and expenses.

Edge’s move in the last quarter took place as the price of Bitcoin saw a significant decline, trade now 50% below its previous peak in April. This demonstrates a ‘buy the drop’ mentality among institutional investors, who take advantage of lower prices to accumulate more bitcoin – something Grayscale CEO Michael Sonnenshein also recently. commented on.

Additionally, a comparison of Edge’s last two quarterly filings reveals that the company has liquidated all ether exposure it had through Grayscale Ethereum Trust, maintaining a total of zero shares. The company may have realized the uniqueness of bitcoin and appreciated [indirectly] stack discount sats.

Institutional interest in bitcoin increased dramatically in 2021, prompting an ETF analyst to say it could end up leading the SEC to rush out and approve an exchange-traded fund for bitcoin again this year.

Other institutional investors who recently bought the decline include Rothschild Investment Corp, which more than tripled its exposure to bitcoin during the last quarter, and ARK Invest, which bought nearly half a million GBTC shares this week for over $ 10 million.

Although directly holding bitcoin does not become a standard for institutions Thirsty for exposure to BTC, indirect investment vehicles such as GBTC and bitcoin ETFs have absorbed the vast demand. However, as Bitcoin matures, it may become more accessible for institutional investors to grab a piece of the pie and directly hold bitcoin on their balance sheets – something retail is currently. more competent To.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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