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CDS Crypto News Millennium Management Leads as Largest Bitcoin ETF Investor with $1.9 Billion Stake

Crypto News

Millennium Management Leads as Largest Bitcoin ETF Investor with $1.9 Billion Stake

Zeynep Öztürk16/05/20242 Mins read156

Millennium Management Leads as Largest Bitcoin ETF Investor with $1.9 Billion Stake

In the past week, over 600 firms have disclosed significant investments in the spot Bitcoin ETF in their latest 13F filings with the United States Securities and Exchange Commission (SEC). Millennium Management has emerged as the largest investor in Bitcoin ETFs with a staggering $1.9 billion investment.

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Bitwise’s chief investment officer predicts that by the end of the May 15 deadline, nearly 700 professional firms will have invested a total of $5 billion in the spot Bitcoin ETF. As of May 9, filing data shows that 563 professional investment firms collectively own $3.5 billion worth of Bitcoin ETFs.

Notable investors include financial giants such as Morgan Stanley, JPMorgan, Wells Fargo, UBS, BNP Paribas, and the Royal Bank of Canada, along with hedge funds like Millennium Management and Schonfeld Strategic Advisors.

Breakdown of Major Investments

Millennium Management stands out with its $1.9 billion investment, divided among several prominent Bitcoin ETFs:

$844.2 million in BlackRock’s IBIT
$806.7 million in Fidelity’s FBTC
$202 million in Grayscale’s GBTC
$45 million in Ark’s ARKB
$44.7 million in Bitwise’s BITB

Schonfeld Strategic Advisors, managing $13 billion in assets, is the second largest spot BTC ETF investor, with a total of $479 million invested:

$248 million in IBIT
$231.8 million in FBTC

Boothbay Fund Management, based in New York, disclosed a $377 million exposure to spot Bitcoin ETFs:

$149.8 million in IBIT
$105.5 million in FBTC
$69.5 million in GBTC
$52.3 million in BITB

Pine Ridge Advisers, another New York-based advisory firm, announced a $205.8 million investment:

$83.2 million in BlackRock’s IBIT
$93.4 million in Fidelity’s FBTC
$29.3 million in Bitwise’s BITB

Morgan Stanley reported a $269.9 million investment, entirely in Grayscale’s GBTC, making it one of the largest GBTC holders. Aristeia Capital LLC, an alternative asset manager, revealed a $163.4 million investment in IBIT.

Graham Capital Management, based in Connecticut, declared investments of $98.8 million in IBIT and $3.8 million in FBTC. CRCM L.P disclosed a $96.6 million investment in IBIT. Fortress Investment Group LLC, a New York-based investment firm, reported a $53.6 million investment in IBIT.

Growing Interest Despite Recent Slump

The spot Bitcoin ETF, which launched in the second week of January, experienced massive demand in its first three months. However, there has been a notable decline in inflows over the past month. Despite this downturn, hundreds of financial institutions have declared billions in investments in the spot BTC ETF, showcasing the continued interest and confidence in Bitcoin as a key asset.

These disclosures highlight the substantial and growing institutional investment in Bitcoin ETFs, reflecting the increasing mainstream acceptance and integration of cryptocurrency in the financial sector.