In its 13F filing with the Securities and Exchange Commission (SEC) on May 10, the Boston-based firm announced 4,327,380 shares in Ark Invest’s ARKB, 2,486,750 shares in BlackRock’s IBIT and Grayscale’s GBTC. He reported that he owns 419,910 shares in the company. These shares were valued at $307.2 million, $100.6 million and $26.5 million, respectively, as of March 31.

13F filings are quarterly reports filed with the SEC by institutional investment managers who manage at least $100 million in equity assets. These statements show the portfolio of stocks the managing company owns at the end of each quarter.

According to The Block’s price page, Bitcoin was around $71,200 on March 31, before falling over 13% and currently trading at $61,834. Bloomberg ETF analyst Eric Balchunas noted that Bracebridge Capital has now become the largest holder of both Ark Invest and BlackRock’s spot Bitcoin ETFs based on reported share values. Balchunas posted to Twitter on Monday: “New peak (high water mark) for Bitcoin ETFs excluding authorized participants/market makers.” Boston-based Bracebridge Capital reported holding $262 million in ARKB. Also $81 million in IBIT’ “They also own $20 million worth of GBTC. They’ve basically gone crazy.” said.

Bracebridge Capital’s ARKB shares outnumber Ark Invest’s holdings in its own spot Bitcoin ETFs through its Next Generation Internet and Fintech Innovation funds, valued at $196.6 million, according to the company’s fund pages.

US spot Bitcoin ETFs now make up more than 80% of Bracebridge Capital’s portfolio

Balchunas also noted that US spot Bitcoin ETFs are now among Bracebridge Capital’s top portfolio holdings as of March 31. Ark Invest’s ARKB is the company’s largest holding, accounting for 61.1% of its portfolio, while BlackRock’s IBIT and Grayscale’s GBTC are the second and fourth largest holdings, at 20% and 6.6%, respectively. are their assets.

The hedge fund also holds Bitcoin mining company Riot Platforms, as well as other stocks such as Trump Media & Technology Group Corp, in its portfolio.

“Also remarkable is the sheer number of owners each has had so far,” Balchunas added. “IBIT hit 250. That’s crazy for the first quarter in the market. Here’s a comparison of other ETFs that launched the same week as BTC’s. And they still have about a week of 13F forms.”

But as one community member noted, 13F reports only require disclosure of long positions in US stocks and stock options. They do not require disclosure of short positions, so they provide only a partial view of an investment manager’s overall portfolio strategy.