Investment Advisory Firm Emerges as a Top Holder of BlackRock Bitcoin ETF

Institutional investors are capitalizing on Bitcoin dips while retail investors react to recent BTC sell-offs by the German government.

Fiduciary Alliance, an investment advisory firm, emerged as a major buyer of BlackRock iShares Bitcoin ETF (IBIT) and Grayscale Bitcoin Trust (GBTC) in Q2 2024, according to a July 10 SEC filing.

The firm added 188,668 units of IBIT valued at $6.64 million and acquired GBTC units worth $3.48 million.

This move coincided with a broader trend among institutional investors, with several entities disclosing significant investments in crypto assets.

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Fiduciary Alliance also expanded its portfolio to include shares in leading crypto-related companies such as Coinbase, MicroStrategy, and Tesla.

The firm purchased 8,332 COIN shares valued at $1.89 million, $1.70 million of MicroStrategy (MSTR) shares, and invested $744,426 in Tesla (TSLA).

Meanwhile, Northwest Capital Management, managing assets worth $5 billion, also entered the Bitcoin market through BlackRock’s iShares Bitcoin Trust (IBIT).

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.