Key Points
- Avenir Group has increased its Bitcoin holdings to $599 million in BlackRock’s iShares Bitcoin Trust.
- Barclays has also entered the Bitcoin ETF market, acquiring 2,473,064 IBIT shares.
Avenir Group, an institutional family office and investment management firm, has reported an increase in its Bitcoin holdings. The firm now holds $599 million in BlackRock’s iShares Bitcoin Trust.
This was disclosed in Avenir’s 13F filing, which provides insights into institutional investments, including asset positions and values. This development is in line with the swift growth of IBIT, which now oversees $56 billion in assets.
Rise of Institutional Interest
BlackRock’s Bitcoin (BTC) ETF has experienced significant growth, indicative of the rising institutional interest in crypto investments. Avenir’s increased stake in the trust underscores its strategic move to cater to the increasing demand for regulated digital asset investment products.
Additionally, Avenir has a $4.2 million stake in Fidelity’s Wise Origin Bitcoin Fund, holding 52,544 shares. The firm, with offices in Hong Kong, the United States, the United Kingdom, Japan, and Singapore, is committed to investing in emerging technologies through financial technology innovation. It takes part in a broad range of multi-asset class, multi-strategy investments across both traditional financial and digital asset sectors.
Barclays Follows Suit
Barclays, a UK-based institution, has also entered the Bitcoin ETF market. The bank acquired 2,473,064 IBIT shares in the fourth quarter of 2024, amidst a post-election Bitcoin price surge influenced by U.S. President Donald Trump’s pro-Bitcoin stance.
This move by Barclays is part of a growing trend of institutional crypto adoption. Other major banks, such as Goldman Sachs and JP Morgan, have also increased their Bitcoin ETF holdings.