Surprise! Investment management firm Millennium Management just disclosed a hefty $1.94 billion chunk of their portfolio sits in spot Bitcoin ETFs.
Millennium's Bitcoin ETF Portfolio Breakdown
Their holdings are spread across five major spot Bitcoin ETFs:
ARK 21Shares Bitcoin ETF (ARKB)
Bitwise Bitcoin ETF (BITB)
Grayscale Bitcoin Trust (GBTC)
iShares Bitcoin Trust (IBIT)
Fidelity Wise Origin Bitcoin ETF (FBTC)
BlackRock's iShares Bitcoin Trust (IBIT) holds the top spot in their allocation, with over $844 million invested.
Fidelity's Wise Origin Bitcoin ETF (FBTC) follows closely behind at $806 million.
Millennium - The King of Bitcoin ETF Holders
According to Bloomberg ETF analyst Eric Balchunas, Millennium's holdings dwarf the average new ETF holder in the top 500 by a staggering 200 times.
Who's Buying Spot Bitcoin ETFs?
The recent wave of 13F filings reveals that investment advisory firms are the primary drivers (roughly 60%), followed by hedge funds (25%).
Bullish Signs for Bitcoin's Future
This surge in institutional buying has industry leaders like Bitwise CIO Matt Hougan feeling increasingly bullish on Bitcoin's prospects.
Hougan highlights the "outsized scale" of institutional interest in these products as a positive indicator for Bitcoin's future.
Looking Ahead: More to Come?
Hougan anticipates the May 15th filing deadline to reveal over 700 professional firms invested in Bitcoin ETFs, potentially reaching a total AUM (Assets Under Management) close to $5 billion.
This news of a major hedge fund like Millennium Management holding significant Bitcoin ETF positions is a significant development for the cryptocurrency. It highlights the growing institutional interest in Bitcoin and could further fuel its adoption and price.
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Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult with a qualified financial professional before making any investment decisions.
Source: CoinTelegraph
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