Bitcoin ETF Holdings Reach $6.5 Million, Choreo Reveals Exposure

Wealth management firm Choreo has disclosed a $6.5 million investment in various Bitcoin ETFs, including BlackRock's iShares Bitcoin Trust ETF, Grayscale Bitcoin Trust ETF, and Fidelity Wise Origin Bitcoin ETF. The firm manages over $27 billion in total assets and joins other institutions, such as Harvard, in increasing exposure to BTC ETFs. The rapid adoption of BTC-focused regulated financial products has contributed to the surge in institutional interest in Bitcoin ETFs.

Wealth management firm Choreo LLC has disclosed a strategic investment of $6.5 million in various Bitcoin ETFs, signaling a significant shift in institutional interest towards digital assets. Choreo, managing over $27 billion in assets, has allocated its investment across several Bitcoin-related exchange-traded funds, including BlackRock's iShares Bitcoin Trust ETF, Grayscale Bitcoin Trust ETF, and Fidelity Wise Origin Bitcoin ETF [1].

The firm's largest Bitcoin exposure is in the iShares Bitcoin Trust ETF (IBIT), where it holds 51,679 shares valued at over $3 million as of June 30. Additionally, Choreo holds 22,976 shares of the Grayscale Bitcoin Trust ETF (GBTC) and 8,314 shares of the Grayscale Bitcoin Mini Trust ETF (BTC), valued at around $1.9 million and $397,000, respectively. The firm also invested in the Fidelity Wise Origin Bitcoin ETF (FBTC), holding 13,607 shares valued at about $1.3 million during the second quarter of the year [1].

Choreo's investment aligns with broader industry trends, as more institutional investors seek to incorporate digital assets into their portfolios. The firm's move joins a growing list of wealth managers and endowments diversifying their holdings with Bitcoin-based funds. This trend underscores the increasing acceptance of Bitcoin as a legitimate investment asset within mainstream financial markets [1].

Harvard Management Company, which manages the university's $53.2 billion endowment, has also reported purchasing 1.9 million shares of BlackRock's iShares Bitcoin Trust ETF (NASDAQ:IBIT) in Q2, worth nearly $117 million as of June 30. This investment makes Harvard the 29th-largest IBIT holder [2]. Additionally, Brown University reported holding 212,500 IBIT shares worth over $13 million as of June 30, up from 105,000 shares worth $4.9 million in Q1 [2].

The rapid adoption of BTC-focused regulated financial products has contributed to the surge in institutional interest in Bitcoin ETFs. By investing in the iShares Bitcoin Trust ETF, one of the most liquid and institutionally backed Bitcoin ETFs, Choreo is effectively positioning itself to benefit from Bitcoin’s potential long-term growth while avoiding the operational and regulatory challenges associated with direct Bitcoin custody [1].

The inclusion of Bitcoin ETFs in Choreo’s portfolio signals a broader shift toward digital assets as a core component of diversified investment strategies. As more wealth managers follow similar paths, the demand for Bitcoin ETFs is likely to increase, potentially contributing to enhanced market liquidity and price discovery. This could, in turn, attract further institutional participation and foster greater stability in the Bitcoin market [1].

References:
[1] https://cryptobriefing.com/choreo-bitcoin-etf-holdings-report/
[2] https://finance.yahoo.com/news/ivy-league-schools-betting-big-163102258.html