U.S. asset manager Patient Capital announces plans to invest in bitcoin spot ETFs, joining a growing list of institutional investors.

Baltimore, Maryland-based asset manager Patient Capital has filed with the U.S. Securities and Exchange Commission (SEC) to add a multi-bitcoin spot ETF to the portfolio of its Patient Capital Management Opportunity Trust fund. The fund reportedly already owns Grayscale GBTC and plans to invest up to 15% of its assets under management in BTC spot ETFs. The fund currently has $1.38 billion in assets under management, leaving $270 million available for investment in BTC spot ETFs. Meanwhile, assets under management in BTC spot ETFs have surpassed $58 billion as of December 12 (local time). On CoinMarketCap, BTC is trading up 0.13% at $71,546.99.