Bitcoin (BTC) traded at $104,007 at press time, holding above the psychologically critical $104,000 mark despite heightened volatility
Bitcoin (BTC) price hovered above $104,000 on Friday as new filings showcased Asia’s largest ETF investor, Avenir Group, had boosted its investment in BlackRock’s Bitcoin ETF to $691 million.
The significant buildup in institutional interest in cryptocurrencies continues, with the latest SEC filings revealing that Avenir Group, Inc., a Hong Kong-based firm and Asia’s largest institutional investor in Bitcoin ETFs, has increased its holdings in the iShares Bitcoin Trust (IBIT)
According to a recent SEC filing, Avenir Group's subsidiary, Avenir Income & Growth, LLC, reported a sizable position of 14,704,640 IBIT shares as of March 31, 2025.
At the time of filing, IBIT is trading at $47.03 a share, which means Avenir Group's total investment in the Bitcoin ETF is valued at $691 million. In the previous quarter, the firm disclosed having 11,300,000 IBIT shares in its portfolio.
Founded in 2023, Avenir Group operates across major global markets including Hong Kong, the U.S., the U.K., Japan, and Singapore. The firm's investment strategy focuses on a diverse range of assets, including equities, fixed income, and alternative investments.
In addition to its massive $691 million stake in Blackrock’s IBIT, Avenir also disclosed ownership of over 58,000 shares in the Fidelity Wise Origin Bitcoin Fund (FBTC), valued at approximately $4 million.
The new filings come as investors keep a close eye on the latest trends in institutional cryptocurrency investments. Earlier this week, filings showed that Goldman Sachs had increased its holding of IBIT by 28%, now holding 30.8 million shares of the Bitcoin ETF.
The filings also highlight the growing interest in Bitcoin as an inflation hedge and a potential addition to institutional portfolios. As the macroeconomic landscape evolves, it remains to be seen how these investments will perform in the long term and whether more institutions will join the fray.
