Global hedge fund Millennium Management has revealed stakes of $1.94 billion spread across five different spots Bitcoin ETF products.
Global hedge fund Millennium Management revealed its holdings. The value of Holding was close to $2 billion. The assets were exchange-traded funds (ETFs) with spot Bitcoin assets. The first quarter of this year was the subject of this revelation.
Millennium’s 13F filing with the SEC reports holdings of $1.94 billion. Five major spot Bitcoin ETFs received a part of the holdings. On March 31, Millennium took a snapshot of these holdings.
The hedge fund spread its investments over several different spot Bitcoin ETFs. These included Bitwise ARK 21Shares Bitcoin ETF (ARKB), Bitcoin ETF (BITB), Fidelity Wise Origin Bitcoin ETF (FBTC),iShares Bitcoin Trust (IBIT), and Grayscale Bitcoin Trust (GBTC).
BlackRock’s Bitcoin fund was Millennium’s largest asset with almost $844,000,000 invested. Fidelity’s fund came in a second position with somewhat more than $844,000,000 worth of FBTC shares in the hedge fund’s portfolio.
Eric Balchunas, a Bloomberg ETF analyst, referred to Millennium as the “king” of Bitcoin ETF holders. He pointed out that the firm’s exposure was 200 times more than that of the average new ETF holder in the top 500.
Balchunas stated that approximately 60% of new spot buyers of Bitcoin of ETFs were investment advisory firms. About 25% of these purchases were hedge funds.
Institutional Interest in Bitcoin ETFs: Insights from 13F Filings
Mandatory 13F filings have made it clear who is buying Bitcoin ETFs on the spot. This information gives Bitwise’s chief investment officer, Mat Hougan, finds this information encouraging. He gives a sense of optimism about Bitcoin’s future.
On May 13, Hougan emphasized the importance of quarterly 13F filings in a message to investors. These documents provide important details about the individuals who buy these funds. Hougan pointed out that these items have significant institutional interest. He sees this as a positive indicator of Bitcoin’s prospects.
“The big news is: a lot of professional investors own Bitcoin ETFs,” Hougan stated, emphasizing the presence of firms that own Bitcoin products like Hightower Advisors, Bracebridge Capital, and Cambridge Investment Research.
He further stated:
“By the time the May 15 filing deadline arrives, I suspect we may end up with 700+ professional firms and a total AUM approaching $5 billion.”
On May 14, the State of Wisconsin revealed a $164 million investment across two funds from Grayscale and BlackRock.
