Crypto News – Bitcoin ETFs: Hedge Funds’ 2.4 Billion Dollars Gamble Unveiled

Traditional Finance Giants Dive into Bitcoin ETFs: Revealing Multi-Billion Dollar Investments

Crypto News- In a surprising turn of events, Millennium Management and Schonfeld Strategic Advisors have thrown their hats into the Bitcoin ETF ring, making headlines with their substantial investments. According to recently filed 13F documents for the first quarter, these firms have disclosed some of the largest allocations to spot Bitcoin ETFs within the traditional financial sector.

Millennium’s Dominance: A Breakdown of the Billion-Dollar Bitcoin ETF Investment

Millennium leads the pack with a staggering $1.9 billion investment across various Bitcoin ETFs. Their portfolio breakdown includes $844.2 million in BlackRock’s IBIT, $806.7 million in Fidelity’s FBTC, $202 million in Grayscale’s GBTC, $45.0 million in Ark’s ARKB, and $44.7 million in Bitwise’s BITB.

Not far behind, Schonfeld Strategic Advisors has revealed a hefty $479 million investment, with $248.0 million in IBIT and $231.8 million in FBTC.

These disclosures place Millennium as the top holder in both IBIT and FBTC categories, with Schonfeld trailing closely behind. Additionally, Millennium secures spots among the top 10 holders for each of the other Bitcoin ETF investments.

With assets under management (AUM) reaching $69 billion for Millennium and $13 billion for Schonfeld as of the end of 2023, these firms wield considerable influence in the financial landscape.

Morgan Stanley Enters the Fray: A Glimpse into Global Banking Giants’ Bitcoin ETF Ventures

The timing of these filings is noteworthy, as May 15 marked the quarterly deadline for 13F submissions. Among other notable disclosures, Morgan Stanley emerged as a player in the Bitcoin ETF arena, affirming its position as one of the Global Systemically Important Banks (G-SIBs) with spot Bitcoin ETF holdings.

As the deadline approached, speculation ran high, with Bitwise CIO Matt Hougan estimating that over 700 professional companies would collectively invest nearly $5 billion. However, he underscored that retail investors also play a significant role in driving spot Bitcoin ETF assets.

Currently, the 10 available spot Bitcoin ETFs boast a combined $53 billion in assets under management, with cumulative inflows totaling $12 billion. This surge in institutional interest marks a significant milestone in the integration of cryptocurrencies into traditional finance.

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