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Insurance Giant Announces Investing in Bitcoin ETFs!

source-logo  en.bitcoinsistemi.com 09 May 2024 15:03, UTC

While the spot Bitcoin ETFs approved by the SEC in January attracted many new institutional investors to the market, a new ETF purchase news comes every day.

At this point, Bloomberg ETF analyst Eric Balchunas said that many investment advisors, banks and other institutional investors have invested in BTC ETFs, but they have not yet reported and disclosed these investments.

While many corporate companies have recently reported their ETF exposure in line with this determination of Balchunas, the latest statement came from the insurance giant MassMutual.

Accordingly, leading insurance company MassMutual reported exposure to the Bitcoin ETF in its 13F filings.

The investment amount of MassMutual, which bought it from the Grayscale ETF, was not disclosed.

JUST IN: 🇺🇸 $570B insurance giant MassMutual reported owning #Bitcoin through the Grayscale ETF.

👉MassMutual bought $100m Bitcoin for its balance sheet in 2021 and was founded in 1851.

— Bitcoin Archive (@BTC_Archive) May 9, 2024

This is not the first Bitcoin investment by the famous insurance company MassMutual. Because the company purchased a large amount of Bitcoin through New York-based Digital Investments Group (NYDIG) in 2020. MassMutual, which was founded in 1851 and has approximately 5 million customers, had invested $100 million worth of BTC.

*This is not investment advice.