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Bitcoin Minute: 13F Deadline, Big Players Quietly Expand Bitcoin Holdings

Goldman Sachs leads with $419M in Bitcoin ETFs, while international institutions increase stakes in MicroStrategy. Despite a slower Q2, early signs indicate a strong Q3 for Bitcoin investment.

Each quarter, entities with more than $100M in AUM must file a 13F statement of their asset holdings, due 45 days after the end of the fiscal quarter. The deadline for Q2 filings is today, and while there are fewer major developments compared to Q1, there are still some noteworthy updates. The big news is that investment bank Goldman Sachs now holds over $400M in Bitcoin ETFs, and several international companies are buying MicroStrategy (MSTR) shares.

New Updates

Wisconsin - additional $15M
Last quarter, we learned that the State of Wisconsin bought $160M worth of Bitcoin ETFs. This quarter, they have added approximately 400,000 more shares of IBIT, valued at $15M.
Michigan - $6.5M
In July, in an early filing, we learned that Michigan's state pension fund had added $6.5 million in BTC in Q2.
Goldman Sachs - $419M
With $2.8T AUM, Goldman's filings show over $400M in Bitcoin ETFs at the end of Q2
Morgan Stanley - $184M
This is a new position under "Investment Discretion," added to their Q1 total of $270M.

Buyers of Microstrategy MSTR

Norwegian Central Bank- $152M
Swiss National Bank - $64M
Mitsui Sumitomo (one of Japan's largest insurers) - $39M
South Korea's National Pension Fund - $33M
Wellington Management ($1T AUM) - $26.7M

While there may be some marginal 13F filings to come at the close of business today, we shouldn't expect any major new position disclosures. Total ETF inflow in Q2 was much less than in Q1, at $2B versus $12B, respectively. However, Q3 is off to a better start with nearly $4B of inflows at the halfway mark.