Edelman Financial Engines has announced a position of $34 million in spot Bitcoin exchange-traded funds (ETFs), which now surpasses several of its holdings in major technology firms.

Although this position remains relatively small within the investment advisor’s overall portfolio, it is notably larger than its $25 million investment in Amazon.

This investment, which is held in BlackRock’s iShares Bitcoin Trust and Grayscale’s flagship offerings, aligns closely with the public perspectives of the firm’s founder, Ric Edelman.

Ric Edelman has been a proponent of Bitcoin ETFs since 2019, several years prior to the SEC’s approval of spot products in January 2024. Additionally, he founded the Digital Assets Council of Financial Professionals, an organization aimed at educating financial advisors about cryptocurrency and blockchain technology.

Edelman Financial is not alone in its investment strategy. In a filing submitted recently, Tudor Investment Corporation—managed by the renowned macro trader Paul Tudor Jones—reported ownership of 688,529 shares of IBIT as of June 30, with a value of $22.9 million.

This figure represents an increase from the 579,083 shares Tudor reported the previous quarter.

It is pertinent to note that few investors possess the ability to analyze inflation cycles and their historical trends as effectively as Paul Tudor Jones, making this increase noteworthy in its own right.

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