Key Takeaways:
- Millennium Management controls nearly $2 billion in assets through its investment in various spot Bitcoin ETFs, with its largest holdings in BlackRock’s Bitcoin fund and Fidelity Wise Origin Bitcoin ETF.
- Institutional investors, including hedge funds and investment advisory firms, are heavily investing in Bitcoin ETFs, contributing to a bullish market outlook for Bitcoin.
- The broad base of institutional holders, as reported in recent 13F filings, signals strong professional endorsement and growing confidence in Bitcoin’s market stability.
International hedge fund Millennium Management has disclosed it controls nearly $2 billion in assets through its investment in various spot Bitcoin ETFs.
As of the first quarter of 2024, the firm reported holding $1.94 billion spread across five different Bitcoin ETF products, according to its mandatory 13F filing with the U.S. Securities and Exchange Commission.
JUST IN: 🇺🇸Millennium Management discloses it holds $2 billion in spot #Bitcoin ETFs in new SEC filing 👀 pic.twitter.com/hHzlWbHr9c
— Bitcoin Magazine (@BitcoinMagazine) May 15, 2024
The breakdown of Millennium’s investments includes significant allocations in several major Bitcoin ETFs.
Notably, BlackRock’s Bitcoin fund is the largest single holding, with an investment surpassing $844 million.
Close behind is the Fidelity Wise Origin Bitcoin ETF, with Millennium holding over $806 million in assets.
JUST IN: Millennium Management discloses $2 billion spot #Bitcoin ETF portfolio.
— Watcher.Guru (@WatcherGuru) May 15, 2024
Other significant investments are spread across the ARK 21Shares Bitcoin ETF, the Bitwise Bitcoin ETF, and the Grayscale Bitcoin Trust.
Bloomberg ETF analyst Eric Balchunas highlighted Millennium’s substantial market presence, describing the firm as holding two hundred times the exposure of typical new ETF investors among the top 500.
The data also indicates a broader trend in the market, with investment advisory firms making up about 60% of new Bitcoin ETF purchases, while hedge funds account for approximately 25%.
Millennium is king of the bitcoin ETF holders w/ about $2b across four ETFs. This is out of over 500 holders (about 200x the avg for new ETF). Majority are inv advisors (60%) but a big dose of HFs (25%). Never can be totally sure what HFs up to but they were def big buyers. pic.twitter.com/iVtVXjhId0
— Eric Balchunas (@EricBalchunas) May 15, 2024
This trend in institutional buying is seen as a bullish sign for Bitcoin’s future.
Matt Hougan, Chief Investment Officer at Bitwise, expressed optimism about the growing institutional interest following these disclosures.
He noted that the significant professional investment revealed by the 13F filings underscores a positive outlook for Bitcoin.
⚠️JUST IN:
— Investing.com (@Investingcom) May 16, 2024
*HEDGE FUND MILLENNIUM MANAGEMENT DISCLOSES IT HOLDS $2 BILLION IN SPOT BITCOIN ETFS IN NEW SEC FILING#BTC #BITCOIN pic.twitter.com/2T8wZBHFAs
Additional reports indicate a broader base of institutional holders, including firms like Hightower Advisors, Bracebridge Capital, and Cambridge Investment Research, indicating widespread professional endorsement of Bitcoin ETFs.
Further illustrating this trend, the State of Wisconsin reported a substantial investment in Bitcoin products, holding a combined $164 million in funds offered by Grayscale and BlackRock as of May 14.
🚨 BIG BREAKING 🚨
— Ash Crypto (@Ashcryptoreal) May 15, 2024
MILLENNIUM MANAGEMENT A
MASSIVE HEDGE FUND HAS JUST
BOUGHT $2 BILLION DOLLARS
WORTH OF #BITCOIN ETF.
$2 BILLION IS A BIG INVESTMENT.
DON’T IGNORE THE SIGNS.
$200K BTC IS EASILY POSSIBLE.
THIS IS GIGA BULLSIH 🔥
This growing institutional interest is expected to enhance Bitcoin’s market stability and investor confidence moving forward.
About The Author
Fleming Airunugba, a seasoned Web3 and crypto content expert, leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the crypto community.
With a knack for engaging storytelling and strategic content creation, Fleming is dedicated to educating and inspiring his audience with insightful analysis on cryptocurrencies, NFTs, and the future of digital finance.
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