KeyBank National Association of Ohio has significantly increased its investment in the iShares Bitcoin Trust ETF (NASDAQ: IBIT) by 52.8% during the second quarter of 2023. According to Holdings Channel.com, the institutional investor now holds 29,332 shares after acquiring an additional 10,130 shares during this period, representing a total value of approximately $1,795,000.
Other institutional investors have also adjusted their positions in the iShares Bitcoin Trust ETF. Signature Resources Capital Management LLC raised its stake by an impressive 81.6%, now owning 445 shares valued at $27,000 following the purchase of an additional 200 shares. Meanwhile, RMG Wealth Management LLC entered the ETF market with a new position valued at $30,000 during the same quarter.
JFS Wealth Advisors LLC displayed remarkable growth in its holdings, increasing its stake by 1,277.1% to own 482 shares, valued at $30,000 after acquiring an additional 447 shares. Additionally, Berbice Capital Management LLC doubled its holdings by 100%, now owning 600 shares valued at $28,000. Mather Group LLC also grew its position by 164.2%, owning 605 shares valued at $28,000.
Current Performance of iShares Bitcoin Trust ETF
On Monday, the iShares Bitcoin Trust ETF opened at $62.30. The ETF has a fifty-day simple moving average of $64.41 and a 200-day simple moving average of $62.39. Over the past year, the ETF has experienced considerable fluctuations, with a low of $38.17 and a high of $71.82.
Understanding the iShares Bitcoin Trust ETF
The iShares Bitcoin Trust Registered (IBIT) is an exchange-traded fund primarily focused on long positions in Bitcoin and short positions in USD currency. Launched on January 5, 2024, by BlackRock, the fund is designed to passively track the spot price of Bitcoin.
Investors interested in the iShares Bitcoin Trust ETF can access the latest information about its holdings and insider trades through Holdings Channel.com, which provides a detailed summary of the ETF’s activity.
As institutional interest in Bitcoin investment vehicles continues to grow, the developments surrounding the iShares Bitcoin Trust ETF reflect broader trends in the cryptocurrency market and the increasing adoption of digital assets by traditional financial entities.
