ETH-based ownership for institutional owners up 19% in the third quarter

ETH-based institution holdings rose 19% in the third quarter of this year, the latest SEC filings from large corporations show. In the meantime, Grayscale Bitcoin Have’s confidence in stocks has fallen so we read more on our Ethereum crypto news.

Institutional bitcoin holdings declined in the last quarter, while most of the same companies increased their holdings of ETH-based products, according to new SEC filings. The number of Grayscale Bitcoin Believe shares owned by major institutions declined 2.6% in the third quarter, while the number of Grayscale ETH Trust shares rose 19% quarter over quarter. Large institutional investment managers reported $ 546.8 million in GBTC and $ 74.6 million in ETHE, using the share prices of two trusts today. Companies with $ 100 million or more of assets under management must file Form 13F and disclose what’s in their portfolio within 45 days of the end of the quarter.

In the most recent series of regulatory filings, 10 new companies have announced they have ETHE on their holdings and the two largest are New York-based Tocqueville Asset Administration with 79,398 ETH trusts and shares. The Lead Management ETF Advisor is based in San Francisco with 78,000 shares. Interest in ETH-based equity investments is growing as trusts can arise out of enthusiasm for DeFi, an automotive term used to describe financial products that enable users to lend, borrow, or trade assets.

Meanwhile, several other companies appear to have dropped their GBTC shares, and the largest of them is Texas-based Outlook Wealth Advisors, which is selling 60,000 shares of GBTC and reporting that they now hold 60,000 shares in the BTC mining and software development company. Products and Services Inc. Earlier this year, Bitcoin and ETH exposure came through two grayscale trusts, but that’s changing now, especially when it comes to Bitcoin.

Bitcoin Companies Inc, Toronto-based 3iQ as BTC fund, Idaho-based bitcoin miner XTRA, and New York-based Osprey Bitcoin Belief account for $ 17.5 million of its third-quarter reported holdings. Cathie Wood ‘Ark Invest holds by far the company’s largest single stake in BTC and ETH, while ARK’s stake accounts for 82% of all GBTC shares and 42.6% of ETHE shares.