AFG Fiduciary Services Limited Partnership Invests in iShares Bitcoin Trust

AFG Fiduciary Services Limited Partnership has announced the acquisition of a new stake in the iShares Bitcoin Trust (NASDAQ:IBIT) during the fourth quarter of the year. As per its latest filing with the Securities and Exchange Commission (SEC), the partnership purchased 7,875 shares of this exchange-traded fund (ETF), amounting to an investment valued at approximately $446,000.

The iShares Bitcoin Trust aims to provide exposure to Bitcoin by directly investing in Bitcoin assets. This move by AFG Fiduciary Services reflects a growing interest in cryptocurrency investments among institutional investors.

Other Institutional Investments in iShares Bitcoin Trust

In addition to AFG’s investment, several other hedge funds have recently adjusted their positions in iShares Bitcoin Trust. For instance, Vienna Asset Management LLC increased its stake by a remarkable 131.6% during the third quarter, acquiring a total of 26,642 shares valued at $963,000 after buying an additional 15,137 shares.

Similarly, Garden State Investment Advisory Services LLC made a new investment in the iShares Bitcoin Trust during the same quarter, purchasing shares worth approximately $656,000. B. Riley Wealth Advisors Inc. also increased their holdings by 32.2%, owning 38,078 shares now valued at $1,357,000 after acquiring an additional 9,266 shares.

Notably, Capstone Investment Advisors LLC established a new position in the trust valued at $11,507,000, while Marathon Trading Investment Management LLC expanded its stake significantly by 238.4%, now holding 77,600 shares valued at $2,804,000 after an acquisition of 54,671 shares.

iShares Bitcoin Trust: Price Overview

As for its recent price performance, shares of iShares Bitcoin Trust opened at $60.42. Over the past year, the fund has experienced fluctuations, reaching a 12-month low of $22.02 and a high of $61.75. The average price over the past fifty days is $55.08, while the moving average for the past 200 days stands at $42.69.

About iShares Bitcoin Trust

iShares Bitcoin Trust is managed as a passively managed exchange-traded fund that primarily invests in Bitcoin, while shorting U.S. dollars. It was officially launched on January 5, 2024, and is issued by BlackRock, aiming to closely track the spot price of Bitcoin.

This investment trend among hedge funds suggests a growing confidence in the future potential of Bitcoin as both an asset class and a long-term investment vehicle.

investment, bitcoin, trust