Vanguard, BlackRock up MSTR holdings, while TradFi firms continue disclosing Bitcoin ETF investments Vanguard, BlackRock up MSTR holdings, while TradFi firms continue disclosing Bitcoin ETF investments
Major TradFi companies have begun reporting exposure to Bitcoin via MicroStrategy and spot BTC ETFs.
2 min read
Updated: May. 13, 2024 at 9:23 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Vanguard and BlackRock have increased their stakes in MicroStrategy holdings (MSTR) on May 10.
Vanguard holds 1.6 million shares of MSTR worth $2.6 billion as of the end of the first quarter, up from 1.2 million shares worth $727.6 million at the end of December 2023.
BlackRock now holds 1.2 million shares worth $2.1 billion, up from 1.0 million shares worth $646.4 million at the end of the last quarter.
Numerous other companies have also invested in MSTR, which provides exposure to Bitcoin through its own Bitcoin investments. Data from Fintel indicates that at least 750 firms have invested in MSTR.
MicroStrategy itself has taken steps to increase its Bitcoin holdings. The firm reported buying $1.65 billion of BTC in the first quarter, raising its total holdings to 214,400 BTC. The company maintains its position as the publicly traded company with the most Bitcoin.
Other Bitcoin ETF filings
Meanwhile, 13F disclosures continue to reveal growing TradFi investments in spot Bitcoin ETFs.
Swiss bank UBS has invested $145,692 in BlackRock’s IBIT on May 13. Other Global Systemically Important Banks (G-SIBS), including JP Morgan, Wells Fargo, and BNP Paribas have similarly reported spot Bitcoin ETF investments over the first quarter.
Crypto and blockchain investment firm Multicoin Capital reported a $83.5 million investment in Grayscale’s GBTC. Multicoin’s sole other 13F-reported investment is in Coinbase (COIN) stock, worth $217 million, for a total of $300 million across its latest 13F filing.
The investment places Multicoin Capital among the largest GBTC holders. In earlier filings, Susquehanna International Group and Horizon Kinetics Asset Management reported larger investments, amounting to $1.1 billion and $540 million, respectively.
Spot Bitcoin ETFs collectively reported $52.4 billion in assets under management (AUM) as of May 13 and $11.7 billion of cumulative inflows as of May 10.
Mentioned in this article
Bitcoin 
MicroStrategy 
BlackRock 
Multicoin Capital 
Coinbase 
Grayscale Bitcoin Trust iShares Bitcoin Trust Author 
Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
MicroStrategy
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Multicoin Capital
Multicoin Capital is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies reshaping trillion-dollar markets..
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
The Grayscale Bitcoin Trust (GBTC) is a digital currency investment product that provides investors with access to Bitcoin through traditional investment channels.
The BlackRock Bitcoin ETF, known as the iShares Bitcoin Trust (IBIT), is an investment fund that provides regulated exposure to Bitcoin for investors.
