Clear Creek Financial Management disclosed about $15.1 million across Bitcoin, Ethereum, XRP, and Solana exchange-traded funds in its latest US regulatory filing.
Summary
- Bitcoin ETFs accounted for about $10.4 million, led by Bitwise’s BITB fund.
- Clear Creek reported nearly $4.3 million across three Ethereum ETFs.
- XRP and Solana products expanded the firm’s disclosed crypto allocation beyond BTC and ETH.
- The filing provides a quarter-end snapshot, meaning Clear Creek may have changed its positions since then.
Clear Creek’s Bitcoin ETF holdings top $10 million
Clear Creek’s largest disclosed crypto position was the Bitwise Bitcoin ETF (BITB). The investment adviser reported owning 304,155 shares valued at about $9.69 million at the end of the reporting period.
The firm also held approximately $477,412 in BlackRock’s iShares Bitcoin Trust ETF and $248,539 in the Grayscale Bitcoin Trust ETF. Together, its three Bitcoin ETF positions were worth roughly $10.4 million.
BITB accounted for close to 93% of the firm’s disclosed Bitcoin ETF allocation. Clear Creek manages more than $1.5 billion in assets, placing the crypto positions at a relatively small share of its wider portfolio.
Form 13F requires institutional investment managers overseeing at least $100 million in qualifying US securities to disclose certain long positions every quarter. However, the reports are backward-looking and do not include cash, short positions or assets that fall outside the filing rules.
Clear Creek could therefore have increased, reduced or exited some positions after the reporting date.
Ethereum becomes the firm’s second-largest crypto allocation
Ethereum ETFs formed Clear Creek’s second-largest digital asset allocation at almost $4.3 million.
The firm reported 337,162 shares of the Bitwise Ethereum ETF, valued at approximately $3.8 million. It also disclosed 14,336 shares of the iShares Ethereum Trust worth $170,455.
Clear Creek held a further 21,374 shares of the Grayscale Ethereum Staking ETF, valued at $321,251. The staking product gives investors exposure to ETH while incorporating rewards generated through Ethereum’s proof-of-stake network, subject to the fund’s structure and fees.
Separately, Morgan Stanley launched Ethereum and Solana staking ETFs on July 28. The products charge a management fee of 0.14%, adding another major Wall Street name to the expanding US crypto fund market.
The developments show how regulated products are giving investment advisers several ways to allocate to the same digital asset, including products from Bitwise, BlackRock, Grayscale and Morgan Stanley.
XRP and Solana ETFs broaden Clear Creek’s strategy
Clear Creek also reported smaller positions tied to XRP and Solana, taking its disclosed crypto ETF portfolio beyond the two largest digital assets.
The investment manager held 11,621 shares of the Bitwise XRP ETF, valued at $135,501 at the reporting date.
Its Solana allocation was split between two funds. Clear Creek owned 11,258 shares of the Bitwise Solana Staking ETF worth $112,693 and 28,144 shares of the Grayscale Solana Staking ETF valued at $155,636.
Those positions brought the firm’s total reported Solana ETF exposure to about $268,329. Although small compared with its Bitcoin and Ethereum holdings, the allocations show that some US advisers are using regulated funds to gain exposure to a wider group of crypto assets.
Morgan Stanley also recently disclosed an XRP ETF position, providing another example of traditional financial firms moving beyond Bitcoin-only exposure.
US and global crypto ETF markets continue expanding
Clear Creek’s filing arrives as the SEC considers changes to how it reviews a growing pipeline of ETF proposals.
Brian Daly, an official in the SEC’s Division of Investment Management, said the agency receives roughly 200 ETF applications each month, according to Bloomberg ETF analyst Eric Balchunas. Daly also acknowledged that the regulator had handled crypto poorly and wanted a more orderly process for reviewing novel products.
The SEC is reportedly considering confidential ETF filings, which could allow issuers to submit proposals privately before making them public. Such a system could protect new fund ideas from competitors while regulators conduct an initial review.
Other markets are also examining broader crypto fund access. Japan could allow its first Bitcoin ETF by 2028 as regulators prepare rules permitting investment trusts and ETFs to hold digital assets directly.
For US investors, Clear Creek’s disclosure does not prove that the firm remains invested at the same levels today. It does, however, provide a documented view of how one registered adviser distributed its crypto exposure across four assets and several competing issuers.
