In two filings dated July 10, Vanguard Group increased its investment in bitcoin mining firms Marathon Digital Holdings and Riot Blockchain.
Vanguard currently owns 17.5 million Marathon shares. This figure will appear in a row detailing the total amount each reporter effectively owns. filing Filed with the U.S. Securities and Exchange Commission (SEC).
another filing It shows that Vanguard owns 17.9 million shares in Riot Blockchain, Marathon’s main competitor. Both applications entered into force on June 30, but are dated July 10.
Fintel reports that it is now owned by Vanguard 10.31% marathon and 10.24% Through Riot’s investment, Vanguard’s latest investment in Marathon is also up nearly 60% from February, when Vanguard held 10.97 million shares and 9.39% of the mining company. The company’s latest investment in Riot represents an 18% increase from February, when Vanguard held 15.2 million shares, or 9.09% of the company’s shares, at the time.
Marathon Stock (MARA) is trading at 17.47, giving Vanguard a holding value of $1.305.73 a million. RIOT shares are trading at 17.28 and Vanguard’s holding value is converted to $.313.97 a million. Combined, these investments represent equity stakes in two major Bitcoin mining companies, worth a total of $619.7 million.
Vanguard has little interest outside of cryptocurrencies
Vanguard is currently the world’s second-largest asset manager, with $8.1 trillion in assets under management (AUM) by 2022.
Despite its focus on offering exchange-traded funds, Vanguard did not file for a spot Bitcoin ETF fund in June, alongside BlackRock and Fidelity.
The company has also refrained from investing directly in cryptocurrencies.of May 2022Vanguard CIO Greg Davis said cryptocurrencies are speculative assets with no intrinsic value and are not “a great way to build long-term portfolios for clients.” However, Davis pointed out that the company uses blockchain technology to obtain index data.
The company issued a more general statement April 2022warns of price volatility and high fees, as well as the speculative nature of cryptocurrencies.
Vanguard’s investment in bitcoin mining firm Marathon, Riot, nearing $620 million, was first published on CryptoSlate.