Bitcoin in Passive Funds Nearly $10 Million – Trustnodes

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The Emerald Finance & Banking Innovation Fund is the latest to reveal that it holds bitcoins through the Grayscale Bitcoin Trust (GBTC).

It is a fund that invests in “companies primarily engaged in banking or financial services, and collective investment vehicles such as mutual funds and exchange-traded funds that invest in companies primarily engaged in in banking and financial services.

Bitcoin may therefore seem a little out of place since it is not a bank, but it is linked to financial services to facilitate global trade and payments, so the fund holds $2.6 million of GBTC .

Morgan Stanley also revealed that it purchased $3.6 million worth of GBTC for its Morgan Stanley Europe Opportunity Fund.

As you might guess, this fund invests in European companies, but BTC has likely found its way as a diversifier, accounting for around 1% of the fund’s total assets.

The Saba Capital Income & Opportunities Fund flew under the radar a bit, revealing that it held $1.3 million of GBTC.

This is an even more diversified fund with the addition of bitcoin indicating that the asset could become a trend in passive funds.

Not least because one of the biggest investment managers, BlackRock, has said it can add bitcoin to its global allocation fund, which is usually the most diversified fund because it invests in all global assets.

As far as we know, they haven’t bought bitcoin yet, and there may be other passive funds that hold bitcoin, but haven’t caught our attention.

These names are important though, even if the numbers are a bit small so far, and the fact that they are less than a handful suggests that we are only at the very beginning of adding this new asset to the passive funds.

On a large scale, this translates to virtually every investor exposed to bitcoin, from politicians and billionaires to street cleaners if they have a pension.

Which means we’re probably past the tipping point when it comes to investors, because this asset — for now, it’s just bitcoin — may go mainstream in ways that investors don’t even know. not necessarily that they have bitcoin.

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