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13F filings
Wealth management clients of Wall Street banks like Goldman Sachs, Bank of America, Morgan Stanley in the third quarter continued to modestly accumulate (or trade) bitcoin via the spot bitcoin exchange-traded funds.
Investment advisors including Wall Street giants Goldman Sachs and Morgan Stanley were among the biggest holders of spot ETFs as of June 30 as clients amped up their crypto allocations to a total of $4.7 billion.
After Tuesday’s surprising disclosure of a $161 million allocation from the State of WIsconsin, more investment whales turned out to have been part of the unprecedented success of the ETFs.