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Wealth Managers Achieve Direct Bitcoin Exposure With Grayscale Shares

By | August 16, 2021

Submitted applications with the US SEC reportedly disclosed details of four wealth management entities successfully obtaining shares of Grayscale’s Bitcoin Investment Trust, highlighting increased crypto adoption. 

Specifically, initially revealed by MacroScope, a Twitter feed focusing primarily on institutional trading and asset management, the four companies displayed details of their GBTC holdings via freshly submitted filings, for the time frame ending on June 30th this year. 

Particularly, Clear Perspective Advisors – the wealth management entity from Illinois – reportedly shared specifics of direct possession of 7,790 GBTC shares on August 13th. 

Ohio-headquartered Ancora Advisor reportedly accumulated 13,945 shares of GBTC as of June 30. Although the sum appears to not be significant for its scale of a multi-billion-dollar asset management firm, the initiative displayed a major strategic plan, taking into account the long-term mindset the firm employs, when it comes to investment approaches. 

Meanwhile, two extra companies stocked up on their GBTC holdings for the June 30 reporting timeframe also. Boston Private Wealth, having a total number of 88,189 GBTC shares in ownership as of reporting time frame March 31, scooped upon its exposure to hit the 103,469 benchmark. 

Investment management entity from Ohio Parkwood reportedly disclosed an overall amount of holdings to 125,000 shares from 93,000 at the end of March.

Top-tier companies are reportedly employing new and diverse methods to achieve exposure to Bitcoin and a variety of different digital assets. Tech heavyweight Intel has recently revealed a major acquired sum of Coinbase stock, which offered direct exposure to the digital currency market.

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