RIA platform Hightower Advisors has purchased stakes worth a combined $68 million in six spot Bitcoin ETFs, according to its latest 13-F filing. The investments were first reported by Watcher.guru.
A Hightower spokesman said the firm does not comment on its portfolio decisions, so it’s unclear how the 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 the Bitcoin ETF stakes represent only 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 21Shares 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 the spot bitcoin ETF stakes, Hightower reported smaller positions in ProShares Bitcoin Strategy ETF (BITO) (40,103 shares for $1.29 million), a bitcoin futures ETF, call options on ProShares Short Bitcoin Strategy ETF (BITI) and Volatility Shares 2x Bitcoin Strategy ETF (BITX) (10,571 shares for $563,000).
The news comes two weeks after several other RIAs revealed stakes in bitcoin ETFs in 13-F filings and are noteworthy given initial hesitancy by some RIAs to spot bitcoin ETFs after they were approved by the SEC in January.
Hightower CEO Bob Oros recently spoke with WealthManagement.com after celebrating his five-year anniversary as chief executive of Hightower.