New data from the latest 13F filings reveals a sharp increase in institutional interest in spot Bitcoin ETFs, with registered investment advisors (RIAs) emerging as the dominant players.
Industry insiders also point to a shift in how RIAs are marketing crypto to high-net-worth (HNW) clients.
These RIAs are placing Bitcoin and Ethereum into limited partnerships (LPs), then charging management fees in the structure of “1 and 15”—that is, 1% of assets under management (AUM) plus 15 basis points of gains.
