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HONG KONG SAR –
Media OutReach Newswire – 20 August 2024 – Avenir Group, a global institutional family office focused on multi-strategy investment trading powered by financial technology (FinTech), has become the largest institutional holder of two major Bitcoin exchange traded-funds (ETFs) in Asia in the second quarter (Q2) of 2024. According to its 13-F filing with the U.S. Securities and Exchange Commission (SEC) on 2 August this year, Avenir Group’s cumulative investment in two Bitcoin ETFs amounted to approximately US$384 million, demonstrating its extensive and dedicated investment in emerging technologies, as well as its expertise and strong deployment in the crypto asset space.
According to the data released, Avenir Group holds a total of 3.847 million shares of the Fidelity Wise Origin Bitcoin Fund (FBTC), with an approximate market value of US$202 million, as well as 5.319 million shares of the BlackRock’s iShares Bitcoin Trust (IBIT), with an approximate market value of US$182 million.
Jason Lan, Chief Executive Officer of Avenir Crypto Business, commented, “We are optimistic about the long-term prospects of bitcoin and other crypto assets. As the U.S. enters a rate-cutting cycle and regulatory frameworks become clearer, it is expected that mainstream institutions will increase their presence in the crypto asset space, attracting more investors to enter the market quickly and share the benefits of its growth. This will further deepen the integration of blockchain with the traditional financial system. Avenir Group will continue to improve its risk management of crypto asset investments and expand the depth and breadth of its investment products through continuous investment and research, so as to better tap into and expand overseas markets and go global.”
Founded by Mr. Li Lin in 2023, Avenir Group is a pioneering institutional family office and investment management group dedicated to building an innovative, diversified and robust investment platform and ecosystem. Through the integration of financial technology, technology-driven investment methodologies in today’s digital assets and traditional financial systems, Avenir Group envisions to empower the industry by providing and developing more accurate investment strategies and better risk management capabilities. Avenir Group makes multi-strategy investments in the global marketplace, including public market investments, private equity and venture capital investments, in the traditional financial and digital asset sector. Avenir Group strives to maintain a leading position in the industry with deep insights and excellence in the Web3 and crypto asset space.
Public data from 13-F filings by major institutions reveal a growing enthusiasm for Bitcoin ETFs among mainstream financial institutions and pension funds in Q2. According to industry analysis, Bitcoin ETFs saw a 27% jump in acceptance by institutional investors in Q2 of 2024, bringing the total number of professional bodies holding these ETFs to more than 1,000. Goldman Sachs and Morgan Stanley together purchased over US$600 million of spot bitcoin ETFs in Q2, while pension funds also accelerated their participation, with the State of Michigan Retirement System purchasing US$6.6 million of spot bitcoin ETFs in Q2. Furthermore, a significant number of advisory firms, family offices, and select institutional investors are joining the race. The continued increase in Bitcoin ETF holdings by mainstream financial institutions and pension funds reflects the further integration of the emerging digital asset market with the traditional financial market, which will have a profound impact on the long-term development of the Bitcoin and other cryptocurrency market. Avenir Group is capitalizing on these new market opportunities by leveraging its investment expertise in blending the new with the traditional.
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