Avenir Boosts Bitcoin ETF Holdings by 30%
Hong Kong-based investment company significantly increases holdings in BlackRock's Bitcoin exchange-traded fund, expanded value now stands at approximately $688 million.
Hong Kong investment firm Avenir has bolstered its holdings in BlackRock's iShares Bitcoin Trust ETF (IBIT) by an impressive 30%, reportedly purchasing 3.4 million additional shares during the first quarter, bringing their total to a staggering $863 million, according to U.S. regulatory filings.
Avenir currently holds 14.7 million IBIT shares, which constitute about 86% of their portfolio, as reported by investment research platform Fintel. The firm's commitment to crypto-focused investments became evident in February, when they announced the acquisition of about 11,300 shares worth $599 million. Additionally, they held approximately 52,500 shares of the Fidelity Wise Origin Bitcoin Trust (FBTC), worth over $4.2 million, also reported by Fintel.
In light of these strategic moves, Avenir expressed their confidence in the future of digital assets and their role in the firm's brand evolution and business strategy. Despite requests for further comment from Decrypt, they have yet to provide more insight.
The rise in institutional interest in digital assets, most notably Bitcoin, is evident through Avenir's investment, as well as the pro-crypto stance of the U.S. under President Trump. Bitcoin ETFs have seen astronomical net inflows reaching $41 billion since their initial SEC approvals in January 2024, with President Trump issuing executive orders to protect Bitcoin miners’ rights and authorize the creation of a Strategic Bitcoin Reserve within the U.S. Treasury.
As adoption and interest in digital assets intensify, Avenir has begun a push to further engage with the market. They launched the Crypto Partnership Program last fall, dedicating $500 million to support digital asset-focused quantitative trading teams around the world.
Note: Data regarding Bitcoin ETF inflows, president's executive orders, and potential Bitcoin price predictions have been sourced from Farside.
(Edited by James Rubin)
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- Despite Avenir's substantial investment in Bitcoin's ETF, they have kept mum about their strategic moves, even when asked for comment by Decrypt.
- The crypto community is closely watching Avenir's push towards engaging more with the digital asset market, especially after they announced the launch of the Crypto Partnership Program last fall.
- With an impressive 30% boost in holdings, Avenir now owns $863 million worth of shares in BlackRock's iShares Bitcoin Trust ETF (IBIT), according to U.S. regulatory filings.
- Avenir's portfolio is heavily focused on digital assets, with about 86% of it invested in IBIT shares, as reported by investment research platform Fintel.
- The growing interest in digital assets, such as Bitcoin, is not only evident in Avenir's investments but also in the pro-crypto stance of the U.S. under President Trump.
- Bitcoin ETFs have experienced astronomical net inflows, reaching $41 billion since their initial SEC approvals in January 2024, as reported by Farside.
- The technology behind digital assets like Ethereum (eth) and Bitcoin (btc) continues to shape the future of finance, with investors worldwide viewing crypto as a promising digital asset class.
