Edelman Surpasses Amazon with $34M Bitcoin ETF Bet
Edelman Financial Engines, which manages $326 billion in client assets, has disclosed a $34 million position in spot Bitcoin exchange-traded funds (ETFs) in its latest regulatory filing.
The stake is split between IBIT and GBTC, now exceeding Edelman's $25 million Amazon holding. This comparison stands out as the firm reports a relatively small 0.012% allocation to Bitcoin within its total portfolio.
This move comes amidst a wave of institutional investment in spot Bitcoin ETFs, with JPMorgan growing its IBIT stake to roughly $356 million and UBS more than quadrupling its position to nearly $90 million.