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Plante Moran Advisors boosts Bitcoin ETF holdings by 70% to $42M

Plante Moran Advisors boosts Bitcoin ETF holdings by 70% to $42M

Photo: Arturo Añez. / Pexels

The wealth manager spread its spot Bitcoin ETF exposure across IBIT, GBTC, and FBTC in the third quarter, joining a broader advisor buying trend

by John Chen

2 min read

In Crypto

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Plante Moran Advisors grew its spot Bitcoin ETF holdings by 70% in the third quarter, bringing the position to $42 million.

That is not the kind of number that moves Bitcoin’s price on its own. It does reveal who has been buying these funds lately, and the answer increasingly looks like your financial advisor.

What Plante Moran actually bought

The firm’s quarterly 13F filings show the Bitcoin exposure split across three funds. Those are BlackRock’s iShares Bitcoin Trust (IBIT), the Grayscale Bitcoin Trust (GBTC), and Fidelity’s Wise Origin Bitcoin Fund (FBTC).

For the uninitiated, a 13F is a quarterly disclosure that large investment managers file with the SEC. Think of it as a periodic snapshot of what a firm holds in its portfolio.

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Plante Moran’s snapshot showed no other digital assets or tokens. No altcoin funds, no direct crypto, no experimental side bets.

Plante Moran Advisors sits within the larger Plante Moran Financial Advisors, LLC. The firm manages approximately $2.2 billion in total assets under management.

Do the rough math and the Bitcoin ETF position remains a small slice of the overall book. Most of the portfolio still lives in the usual suspects: conventional equity and bond ETFs.

The advisor crowd is buying, hedge funds less so

Plante Moran is not an isolated case. Creative Planning, another wealth management firm, reported a 43% increase in its Bitcoin ETF exposure over the same quarter.

Galaxy Research identified wealth managers and advisors as key drivers of institutional net buying of Bitcoin ETFs during this period. Registered investment advisors broadly shifted toward net buying, based on recent 13F filings.

Meanwhile, some hedge funds have been heading for the exit. Certain funds trimmed their Bitcoin ETF positions during the period.

How we got here

Spot Bitcoin ETFs first launched in the US in early 2024. Before that, investors wanting Bitcoin exposure in a traditional brokerage account had limited options.

The launch gave advisors something they badly needed: a familiar product. An ETF fits neatly into existing portfolio software, compliance reviews, and client statements.

No private keys, no crypto exchange accounts, no explaining seed phrases to a retiree. Just a ticker symbol sitting next to an S&P 500 fund.

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.

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