Brighton Jones LLC Expands Stake in iShares Bitcoin Trust ETF

Brighton Jones LLC has increased its holdings in the iShares Bitcoin Trust ETF (NASDAQ: IBIT) by 25.6% during the second quarter of 2023. According to its recent 13F filing with the U.S. Securities and Exchange Commission (SEC), the firm now owns a total of 11,521 shares, having acquired an additional 2,345 shares in the period. As of the latest filing, Brighton Jones LLC’s investment in the trust is valued at approximately $705,000.

Other hedge funds have also adjusted their positions in the iShares Bitcoin Trust ETF. Notably, American Capital Advisory LLC increased its holdings by 144.7% in the first quarter, now owning 553 shares valued at $26,000 after purchasing an additional 327 shares. Similarly, Signature Resources Capital Management LLC raised its stake by 81.6% in the second quarter, bringing its total to 445 shares worth $27,000 after acquiring 200 shares.

In the first quarter, Mather Group LLC also significantly boosted its investment by 164.2%, currently holding 605 shares valued at $28,000, following an addition of 376 shares. Meanwhile, Berbice Capital Management LLC doubled its stake, increasing by 100.0% to own 600 shares, also valued at $28,000 after acquiring an additional 300 shares. Furthermore, Smallwood Wealth Investment Management LLC entered a new position in the trust during the first quarter, valued at approximately $30,000.

As for the iShares Bitcoin Trust ETF, the stock experienced a decline of 1.2% recently, opening at $64.49. Over the past year, the ETF has reached a low of $38.17 and a high of $71.82. The fund’s performance is tracked by a 50-day simple moving average of $64.60 and a 200-day simple moving average of $62.00.

The iShares Bitcoin Trust ETF, launched on January 5, 2024, is managed by BlackRock and primarily invests in long Bitcoin positions while shorting U.S. dollars. The fund aims to replicate the spot price of Bitcoin, making it a vital player in the cryptocurrency investment landscape.

Investors interested in tracking institutional investments in the iShares Bitcoin Trust ETF can consult resources such as HoldingsChannel.com for the latest 13F filings and insider trades. For daily updates on news and analysts’ ratings related to the ETF and similar companies, MarketBeat.com offers a free email newsletter.