On April 9, two financial advisors revealed their investments in spot Bitcoin ETFs.

Signal Advisors, a startup based in Michigan catering to independent financial advisors, disclosed ownership of 20,571 shares of BlackRock iShares Bitcoin Trust (IBIT).

Wedmont Private Capital, an RIA based in Philadelphia, disclosed ownership of 3,471 shares of Fidelity Bitcoin ETF (FBTC).

These spot Bitcoin ETF shares constitute a small portion of each firm’s overall investments. Wedmont manages over $1.3 billion in assets under management (AUM), while Signal’s AUM stands at around $403 million.

Their investment portfolios primarily comprise traditional ETFs, stocks, and other assets.

The investments made by Signal and Wedmont signal a growing trend among financial advisors and related firms to include spot Bitcoin ETFs in their portfolios, with these firms among the earliest to do so based on disclosed information.

Another firm, Burkett Financial Services, disclosed on April 1 its ownership of shares in both IBIT and ProShares’ Bitcoin Strategy ETF (BITO).

Industry experts anticipate more such disclosures in the coming days, with Macroscape, an independent financial commentator, predicting larger disclosures as other firms file similar disclosures in the “coming weeks.”

In March, Cetera Financial Group launched an initiative to assist financial advisors in integrating spot Bitcoin ETFs into investment strategies to meet the increasing demand for Bitcoin investment options. Cetera, a major player in the US wealth management industry, boasts a network of over 12,000 financial advisors and approximately $475 billion in AUM.

Inflows into spot Bitcoin ETFs demonstrate strong performance alongside potential demand from private companies. As of April 10, data from Farside indicates that spot Bitcoin ETFs collectively received $12.3 billion in total inflows, including outflows from GBTC.

The two largest funds have attracted billions in inflows in their first three months since launch, with IBIT currently holding $14.7 billion in total inflows, and Fidelity FBTC surpassing $7.9 billion. These funds have set multiple records in the ETF market and have not experienced outflows for over 60 trading days.

Short-term data from CoinShares on April 8 revealed that spot Bitcoin ETFs saw significant inflows of $646 million during the first week of April, despite a negative start to the month.