RIA platform Hightower Advisors has bought shares worth a combined $68 million in six Bitcoin ETFs, according to it. last submission 13-F. Investments were first reported by Watcher.guru.
A Hightower spokesperson said the firm doesn't comment on its portfolio decisions, so it's unclear how Bitcoin ETFs fit into its overall strategy. Overall, Hightower reported more than 3,500 investments in its 13-F worth a cumulative $61.7 billion, meaning Bitcoin ETF holdings represent just 0.1% of the reported portfolio.
The six positions include:
- Grayscale BTC (GBTC): 709,956 shares for $44.8 million
- Fidelity Bitcoin ETF (FBTC): 200,084 shares for $12.4 million
- iShares Bitcoin Trust (IBIT): 188,397 shares for $7.6 million
- ARK 21 Shares Bitcoin ETF (ARKB): 23,964 shares for $1.7 million
- Bitwise Bitcoin ETF (BITQ): 25,449 shares for $988,000
- Franklin Bitcoin ETF (EZBC): 19,129 shares for $788,000
In addition to spot bitcoin ETF shares, Hightower reported smaller positions in the ProShares Bitcoin Strategy ETF (BITO) (40,103 shares for $1.29 million), an ETF of bitcoin futures, call options on ProShares Short Bitcoin Strategy ETF (BITI) AND Bitcoin Strategy 2x Volatility Shares ETF (BITX) (10,571 shares for $563,000).
The news comes two weeks after several other RIAs discovered shares in bitcoin ETFs in 13-F filings and are important data initial reluctance by some RIAs to spot bitcoin ETFs as they were approved by the SEC in January.
Hightower CEO Bob Oros recently spoke to WealthManagement.com after celebrating his five-year anniversary as Hightower's chief executive officer.