Investment giant Hightower invested $68 million in six spot Bitcoin ETFs

Investment firm Hightower Advisors has invested $68 million in the spot Bitcoin ETF sector. This amount of capital was distributed among six crypto funds based on the first cryptocurrency.

Hightower is an American financial planning and investment advisory firm headquartered in Chicago, Illinois. It has $130 billion under management, making the company one of the largest players in its segment.

According to its Form 13F filing with the US Securities and Exchange Commission (SEC), Hightower invested $68 million in cryptocurrency ETFs. The funds were distributed among crypto funds as follows:

• Grayscale GBTC - $44,838,000;
• Fidelity FBTC – $12,410,000;
• BlackRock IBIT - $7,621,000;
• ARK Invest/21Shares ARKB - $1,702,000;
• Bitwise BITB - $988,000;
• Franklin Templeton EZBC - $788,000.

At the time of writing, company representatives had not commented on their decision to invest in spot Bitcoin ETFs.

Meanwhile, it became known that the net inflow into investment products based on the first cryptocurrency on May 6, 2024 amounted to about $217 million.

Fidelity Bitcoin Spot ETF (FBTC) took first place in terms of capital inflow. It added $99 million to its balance sheet, and its funds under management reached more than $8 billion.

In second place is a crypto fund from Ark Invest and 21Shares with $76 million, in third place is iShares Bitcoin Trust (IBIT) with $22 million. The rest of the Bitcoin ETFs received a total of $21 million.