Pine Ridge Investors, a New York-based Registered Investment Advisor (RIA), has invested over $205 million in IBIT, BITB, and FBTC, which accounts for 23% of their total assets under management. This move underscores the increasing involvement of traditional financial institutions and RIAs in the crypto markets. FBTC attracted the largest stake, with an investment worth $93.38 million. BlackRock’s IBIT accounted for a stake of $83.17 million, while the Bitwise BTC ETF received an investment of $29.26 million. Canadian banking giants Scotia Bank and Toronto Dominion Bank have also entered the spot BTC ETF space. Scotia Bank disclosed a $1.5 million investment across IBIT, GBTC, and FBTC.
Source: https://coinpedia.org/crypto-live-news/pine-ridges-205m-crypto-investment-fbtc-ibit-and-bitb-lead-the-way/