Are you telling me most major asset management companies don't already have a lot of BTC?

Hey Team BTC.

I'm trying to wrap my head around the idea that Blackrock et al don't already have tens, if not hundreds of thousands of Bitcoin.

So when the spot etf is announced, is there really a ton of money sitting on the sidelines that jumps into the game with that approval or will these companies all come out and say "Surprise! We've got half the BTC already!"