Choreo, a leading independent wealth management firm overseeing more than $27 billion in assets, has made a significant move into the Bitcoin ETF space. According to a recent SEC filing, the firm invested approximately $6.5 million across several Bitcoin-focused exchange-traded funds (ETFs) during the second quarter of 2024.
BlackRock, Grayscale, and Fidelity ETFs Among Choreo’s Key Holdings
The filing reveals that Choreo’s largest Bitcoin-related investment was in BlackRock’s iShares Bitcoin Trust ETF (IBIT). As of June 30, the firm held 51,679 shares of IBIT, valued at over $3 million. This position represents nearly half of Choreo’s total Bitcoin ETF exposure.
In addition to IBIT, Choreo also took notable positions in multiple Grayscale products. It owned 22,976 shares of the Grayscale Bitcoin Trust ETF (GBTC), worth about $1.9 million, and 8,314 shares of the Grayscale Bitcoin Mini Trust ETF (BTC), valued close to $397,000.
Choreo also added Fidelity’s Wise Origin Bitcoin ETF (FBTC) to its portfolio, holding 13,607 shares with an approximate value of $1.3 million.
Bitcoin ETFs Gain Ground Among Institutional Investors
Choreo’s entry into the Bitcoin ETF market is part of a larger trend of institutional adoption. Wealth managers, hedge funds, pension plans, and even university endowments are increasingly incorporating crypto-linked ETFs into their portfolios as digital assets move further into the financial mainstream.
The investment by Choreo not only highlights growing confidence in regulated crypto investment vehicles but also reinforces the idea that Bitcoin is maturing as an asset class. As more firms like Choreo allocate capital to these ETFs, the perception of Bitcoin as a long-term, diversified investment option continues to strengthen.
