Wolverine Asset Management Cuts Stake in iShares Bitcoin Trust ETF

Wolverine Asset Management LLC has significantly reduced its stake in the iShares Bitcoin Trust ETF (NASDAQ: IBIT), lowering its position by 52.4% during the third quarter of 2023. According to its recent Form 13F filing with the Securities and Exchange Commission (SEC), the institutional investor now holds 553,690 shares after selling 609,104 shares in the reporting period. The remaining holdings are valued at approximately $35.99 million.

Several other institutional investors have also adjusted their positions in the iShares Bitcoin Trust ETF. Notably, JNBA Financial Advisors increased its stake by an impressive 1,329.7%, acquiring an additional 2,327 shares to bring its total to 2,502 shares, valued at $163,000. Similarly, Cannon Global Investment Management LLC raised its holdings by 4.7%, now owning 11,100 shares worth $722,000 after purchasing an additional 500 shares.

Wolff Wiese Magana LLC also reported a substantial increase, lifting its position in the ETF by 49.6% to a total of 1,020 shares, valued at $66,000. Copperleaf Capital LLC expanded its stake by 16.9%, acquiring an additional 77,414 shares to total 536,552 shares, valued at $34.88 million. Lastly, Global Trust Asset Management LLC made a notable increase of 530.0%, now owning 630 shares valued at $41,000.

As of the latest trading session, shares of the iShares Bitcoin Trust ETF opened at $54.00. Over the past year, the ETF has experienced a low of $42.98 and a high of $71.82. The fund’s 50-day moving average stands at $51.68, while the 200-day moving average is at $60.14.

The iShares Bitcoin Trust ETF was launched on January 5, 2024, and is managed by BlackRock. It primarily invests in long Bitcoin positions while shorting USD currency, aiming to track the spot price of Bitcoin.

For further insights into institutional holdings and other relevant data, investors can explore platforms like HoldingsChannel.com, which provides updates on 13F filings and insider trading activities related to the iShares Bitcoin Trust ETF.