Bitcoin ETF

Bitcoin

Monolith

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Monolith Management, a firm co-founded by a former Sequoia China executive, has disclosed a $24 million investment in BlackRock’s bitcoin ETF.</li>
 <li>The Hong Kong-based firm’s investment in the bitcoin ETF is more than double its stake in Meta.</li>
</ul>
<p>Monolith Management, an investment firm co-founded by former Sequoia China executive Cao Xi, has revealed a significant position in BlackRock’s spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> ETF. According to a recent Securities and Exchange Commission filing, the firm owns over $24 million in the ETF, identified by the ticker symbol IBIT.</p>
<p>This investment represents the fifth largest position held by Monolith Management, and notably exceeds the firm’s stake in Meta, the company founded by Mark Zuckerberg.</p>
<h2 id="other-investments-and-market-activity">Other Investments and Market Activity</h2>
<p>The filing also indicated that Monolith’s largest investments are in Nvidia and Microsoft.</p>
<p>In related news, IvyRock Asset Management, another Hong Kong-based investment firm, has reported an almost $19 million stake in BlackRock’s spot Bitcoin ETF. The recent debut of spot Bitcoin ETFs on the Hong Kong Stock Exchange has attracted less capital than their U.S. counterparts thus far.</p>
<p>BlackRock’s fund has emerged as the most popular among the newly launched spot Bitcoin ETFs in January, in terms of assets under management. It’s worth noting that Grayscale’s fund, which currently has the highest assets under management, is a converted fund that launched with tens of billions of dollars already under management.</p>

Ex-Sequoia Executive Boosts BlackRock Bitcoin ETF With $24M, Doubles Meta Stake

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