A hedge fund based in Boston has acquired Bitcoin exchange-traded fund (ETF) shares amounting to $363 million. Bracebridge Capital, the firm in question, has disclosed ownership of $262 million worth of ARK 21Shares Bitcoin ETF (ARKB), $81 million worth of BlackRock's iShares Bitcoin Trust (IBIT), and $20 million worth of Grayscale Bitcoin Trust ETF (GBTC), as noted by Eric Balchunas, a senior ETF analyst at Bloomberg.

Bracebridge Capital, renowned for managing endowment funds for prestigious educational institutions such as Yale and Princeton, reports a total of around $12 billion in net assets under management (AUM). In addition to their substantial holdings in Bitcoin ETF shares, the firm also has noteworthy investments in various companies, including the biotech firm Alvotech, the holding company Ambac Financial, and the security solutions provider ADT.

According to disclosures in a recent Form F13 filing, several major financial institutions in the United States have been holding Bitcoin ETF shares on behalf of their clientele. JPMorgan, in its filing, revealed holdings of approximately $760,000 in BTC ETF shares across different funds, including BlackRock's iShares Bitcoin Trust, the ProShares Bitcoin Strategy ETF (BITO), Fidelity's Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust, and the Bitwise Bitcoin ETF.

Likewise, Wells Fargo has disclosed ownership of 2,245 shares of Grayscale Bitcoin Trust valued at nearly $123,000 at the time of the report. This demonstrates a growing interest and involvement among large financial entities in acquiring and managing Bitcoin ETF shares for their clients, showcasing a shift towards embracing digital assets as part of their investment portfolios.