Macquarie Cuts Crypto ETF Holdings, Builds New BitMine Stake
Summary
- Macquarie said the value of its spot Bitcoin ETF IBIT holdings fell after it cut the position by about 19.3%% in the first quarter.
- Macquarie also reduced its holdings of BlackRock’s spot Ether ETF ETHA by about 9.5%%, lowering the value of the position.
- Macquarie also bought BitMine shares, building a new position worth about $41.53 million in the world’s largest Ethereum treasury company.
Forecast Trend Report by Period
Macquarie Group reduced its holdings of spot cryptocurrency exchange-traded funds, including Bitcoin, in the first quarter.
Odaily reported on May 21 that Macquarie disclosed in a recent filing with the US Securities and Exchange Commission that it held 4.139 million shares of BlackRock’s spot Bitcoin ETF, IBIT. That was down about 19.3% from 5.126 million shares in the previous quarter. The value of the holding fell to $159 million from $255 million.
Macquarie also trimmed its position in a spot Ether ETF. Its holdings of BlackRock’s spot Ether ETF, ETHA, fell about 9.5% to 3.289 million shares in the first quarter from 3.634 million shares in the fourth quarter of last year. The value of that stake declined to about $52.1 million from about $81.5 million.
Macquarie also newly purchased shares of BitMine, the world’s largest Ethereum treasury company. As of the first quarter, its BitMine stake was valued at about $41.53 million.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
