600 US Financial Companies Invest Money in Bitcoin Spot ETFs

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Xoken.org – More than 600 financial companies have invested heavily in Bitcoin Spot ETFs. This was revealed in their financial company filings submitted to the American Securities and Exchange Commission (SEC) over the past week.

Quoted from Coinmarketcap, Thursday (23/5/2024), according to the data disclosed, professional investment companies have declared Bitcoin ETF holdings of USD 3.5 billion or the equivalent of IDR 55.8 trillion (assuming an exchange rate of IDR 15,694 per US dollar).

Asset management company Millennium emerged as the largest investor in the BTC ETF, having allocated USD 1.9 billion or the equivalent of IDR 30.3 trillion.

Followed by Schonfeld Strategic Advisors, a hedge fund managing USD 13 billion in assets, with a large investment of USD 248 million in BlackRock ETFs and an additional USD 231.8 million in Fidelity funds, for a total of USD 479 million.

Morgan Stanley, one of the leading financial institutions, has disclosed a huge investment of USD 269.9 million in GBTC, strengthening its position as one of the largest holders of GBTC.

Aristeia Capital, an alternative asset manager, has disclosed a USD 163.4 million investment in IBIT. Other financial giants such as JPMorgan, Wells Fargo, UBS, BNP Paribas, and Royal Bank of Canada are also on the list of investors.

Despite a significant slowdown in inflows in recent weeks, spot Bitcoin ETFs saw huge demand in the first three months following their launch in mid-January.

Bappebti Intensively Carries Out Crypto Asset Literacy, Targeting Gen Z
The Ministry of Trade through the Commodity Futures Trading Supervisory Agency (Bappebti) continues to intensify crypto asset literacy, this time for students and the stand-up comedy community in Surabaya for two days, 17-18 May 2024.

This activity aims to provide understanding regarding crypto to the younger generation. This is because as many as 23.7 percent of crypto asset customers in 2023 will come from students.

“Crypto asset literacy this time was carried out among students and the solo comedy community in Surabaya. “The series of activities began with a solo comedy competition followed by crypto asset literacy which was presented in the form of a public lecture at Airlangga University (Unair) the following day,” said Bappebti Secretary Olvy Andrianita, in his statement, quoted Wednesday (22/5/2024).

He explained that crypto asset literacy activities in Surabaya are one of the agendas for Crypto Literacy Month (BLK) 2024. This activity is a collaboration between Bappebti and PT Pintu Kemana Saja (PINTU), Unair, and the solo comedy community Stand-Up Indo Surabaya.

“We appreciate the crypto asset literacy activities in Surabaya. It is hoped that this activity can broaden the knowledge of the younger generation so that they can quickly adapt to developments in technology and information. “Because strengthening the economy and trade will not be separated from technological developments, including crypto assets,” said Olvy.

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