Choreo Invests $6.5M in Bitcoin ETFs as Assets Reach 155B
Wealth manager Choreo LLC has allocated $6.5 million to spot Bitcoin ETFs, signaling growing institutional interest in regulated crypto products. The firm with over $27 billion in assets under management purchased 51,679 shares of BlackRock’s iShares Bitcoin Trust (IBIT), 22,976 shares of Grayscale Bitcoin Trust (GBTC), 8,314 shares of Grayscale Bitcoin Mini Trust and 13,607 shares of Fidelity’s Wise Origin Bitcoin ETF (FBTC). Spot Bitcoin ETFs attracted more than $17 billion in net inflows from April to July, with only August seeing $321 million of outflows. Overall net assets in Bitcoin ETFs have surpassed $155 billion, or 6.48% of Bitcoin’s market cap, underlining sustained confidence among major asset managers.
Bullish
Choreo’s investment in spot Bitcoin ETFs is a bullish indicator for the market. The $6.5 million inflow into multiple Bitcoin ETF products highlights sustained institutional demand and adds buying pressure that could support short-term price stability. The continued net inflows of over $17 billion between April and July, and overall assets exceeding $155 billion, suggest growing adoption of regulated Bitcoin ETFs. In the long term, this trend may enhance market maturity, reduce volatility, and attract further institutional capital, reinforcing a positive outlook for Bitcoin prices.