In short
- Avenir, established in Hong Kong, raised its participations of BlackRock’s Spot Bitcoin ETF to 14.7 million shares, worth $ 688 million from 31 March, according to a financial disclosure of the company.
- The IBIT shares of the company rose by 30%in the first quarter.
- Spot Bitcoin ETFs have recorded record-smashing inflow, despite a dip on the trade earlier this spring.
Hong Kong Investment Group Avenir broke up another 3.4 million shares of BlackRock’s Ishares Bitcoin Trust ETF (IBIT) during the first quarter, which brings the fund’s participations to almost $ 700 million, according to an American regulation request that will be published on Thursday Etf -Chancin that spot of evidence that will still be evidence of evidence
Avenir had 14.7 million IBIT shares worth $ 688 million from March 31, according to the submission. This marks an increase of 30% compared to the IBIT holdings of the company for the fourth quarter of 2024. IBIT represents approximately 86% of Avenir’s portfolio, according to investment research platform Fintel.
The company made its dedication to invest in crypto-oriented products in February, and revealed that it had bought approximately 11,300 and then worth $ 599 million in a press release. The company, that said It was “emerging as an important institutional player on the market for digital assets”, according to around 52,500 shares of the Fidelity Wise Origin Bitcoin Trust (FBTC), according to more than $ 4.2 million, False.
“This strategic movement not only underlines Avenir’s confidence in the future of digital assets, but also marks a crucial moment in his brand evolution and business strategy,” Avenir said In an earlier explanation about his digital asset-oriented initiatives.
Decrypt reached to Avenir for extra comments.
The 14.7 million IBIT shares of Avenir are worth $ 863,478,000 based on recent prices. IBIT was recently traded at $ 58.74, Yahoo Finance Data shows. Bitcoin ETFs offer investors access to the active without holding it directly.
The extra investments of the company in Ibit reflect the strong interest of Hong Kong and other Asian hubs in digital assets. It is also because institutions are embracing more and more cryptocurrencies, in particular Bitcoin, in the midst of the persistent pro-Crypto-pivot of the US.
Spot Bitcoin ETFs have generated more than $ 41 billion in net inflow since the first 10 of these Products SECist inspections received in January 2024, despite a recent dip on the market, according to To data provider Verre.
Their recent revival follows US President Donald Trump’s issue of executive orders to protect Bitcoin Miners’ rights and authorization The establishment of a Strategic Bitcoin -Reserve In the American treasury. The guidelines underline the continuous dedication of President Trump to transform the US into the ‘undisputed Bitcoin -SUPERKRACHT and crypto -capital of the world ” – A pillar of him CampaignBelids on the Crypto community.
In the meantime, pro-bitcoin initiatives have also received a grip at the local level in recent months, with more than a dozen states that evaluate legislative proposals to add the token to their treasury reserves.
The increased Bitcoin ETF investment of Avenir is part of his recent urge to deepen his involvement in the digital assets market. The company launched its crypto partnership program last fall and allowed $ 500 million for its collaborations with digital asset-oriented quantitative trade teams around the world.
Published by James Rubin
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