CDS Crypto News Crypto News Today- Bitcoin ETF Holdings of $2 Billion Unveiled by Millennium Management
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Crypto News Today- Bitcoin ETF Holdings of $2 Billion Unveiled by Millennium Management

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Crypto News Today- Bitcoin ETF Holdings of $2 Billion Unveiled by Millennium Management

Millennium Management Exposes $2B Worth of Bitcoin ETF Holdings

Crypto News– International hedge fund Millennium Management has disclosed its ownership of nearly $2 billion in spot Bitcoin exchange-traded funds (ETFs) as of the first quarter of 2024.

According to its 13F filing with the United States Securities and Exchange Commission, Millennium held a total of $1.94 billion across five spot Bitcoin ETFs as of March 31.

The hedge fund diversified its holdings of spot Bitcoin ETF products across various platforms, including the ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, Grayscale Bitcoin Trust, iShares Bitcoin Trust, and Fidelity Wise Origin Bitcoin ETF.

Among these, BlackRock’s Bitcoin fund represents Millenium’s largest allocation, with over $844 million invested, followed closely by Fidelity’s fund with just over $806 million worth of shares held.

Bloomberg ETF analyst Eric Balchunas described Millennium as the king of Bitcoin ETF holders, noting that the firm held 200 times the exposure of the average new ETF holders in the top 500.

Furthermore, Balchunas shared that the majority, approximately 60%, of new spot Bitcoin ETF buyers were investment advisory firms, while around 25% were hedge funds.

Crypto News Today- Bitcoin ETF Holdings of $2 Billion Unveiled by Millennium Management

Revelation: Millennium Management Discloses $2 Billion in Bitcoin ETF Holdings

In a memo to investors dated May 13, Hougan highlighted the significance of quarterly 13F filings in revealing crucial details about the investors purchasing Bitcoin ETFs. He emphasized that the substantial institutional interest in these products bodes well for Bitcoin’s future prospects.

Hougan pointed out that professional investors, including firms like Hightower Advisors, Bracebridge Capital, and Cambridge Investment Research, are among the holders of Bitcoin ETFs.

He anticipated that by the May 15 filing deadline, the number of professional firms holding Bitcoin ETFs could exceed 700, with total assets under management (AUM) nearing $5 billion.

Additionally, on May 14, The State of Wisconsin disclosed its total investment of $164 million across two funds offered by Grayscale and BlackRock.

FAQs

What has Millennium Management disclosed regarding Bitcoin ETF holdings?

Millennium Management has disclosed holdings of nearly $2 billion in Bitcoin exchange-traded funds (ETFs).

When did Millennium Management disclose this information?

Millennium Management disclosed this information in the first quarter of 2024.

How much did Millennium Management hold across five spot Bitcoin ETFs as of March 31?

As of March 31, Millennium Management held a total of $1.94 billion across five spot Bitcoin ETFs.

For the latest in crypto updates, keep tabs on Crypto Data Space.

Crypto News Today- Bitcoin ETF Holdings of $2 Billion Unveiled by Millennium Management

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