According to a new document from the US Securities and Exchange Commission, wealth management institutions obtain Bitcoin exposure through Grayscale

New documents filed with the U.S. Securities and Exchange Commission (SEC) show that four wealth management companies have acquired shares in Grayscale’s Bitcoin Investment Trust, further demonstrating the use of digital assets by institutions.

As first reported by MacroScope, a Twitter feed dedicated to institutional trading and asset management, these companies disclosed their GBTC holdings in new documents for the period ending June 30, 2021.

Clear Perspective Advisors is a wealth management company located in Illinois, disclose Directly owns 7,790 GBTC shares on Friday.

Ancora Advisors in Ohio Scoop up As of June 30, GBTC held 13,945 shares. Although this is a small position for a billion-dollar asset management company, it reflects an important strategic move given the company’s long-term investment prospects.

at the same time, two additional The company increased its holdings of GBTC during the reporting period on June 30. As of March 31, Boston Private Wealth previously reported 88,189 shares of GBTC, and its exposure increased to 103,469 shares. Ohio manager Parkwood increased his holdings from 93,000 shares at the end of March to 125,000 shares.

related: As the unlocking fear subsided, the GBTC premium matched the level of the Bitcoin price collapse

Large companies are looking for new and diversified ways to gain exposure to Bitcoin and other virtual assets.As Cointelegraph reported, the tech giant Intel recently Disclosure of considerable position in Coinbase stock, Provide direct exposure to the digital currency market.

In the coming months, institutions may increase their exposure to digital assets—provided that the bullish narrative continues to play out. Many cryptocurrency observers agree with the four-year cycle theory, which attempts to explain and predict the price of Bitcoin from a low point in one cycle to a low point in another cycle.along with The crypto asset class returns to more than $2 trillion This week—representing a $700 billion rebound from the local bottom—it seems that the next phase of the bull market cycle is gaining traction.

related: Bitcoin’s off-chain data shows that BTC prices have more upward momentum