MILLENNIUM MANAGEMENT REVEALS $2B BITCOIN ETF HOLDINGS 

International hedge fund Millennium Management has disclosed its substantial investments in spot Bitcoin ETFs, revealing holdings worth nearly $2 billion as of the end of the first quarter.

According to a recent 13F filing with the U.S. Securities and Exchange Commission, Millennium Management reported holding $1.94 billion across five key spot Bitcoin ETFs by March 31. These ETFs include ARK 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), Grayscale Bitcoin Trust (GBTC), iShares Bitcoin Trust (IBIT), and Fidelity Wise Origin Bitcoin ETF (FBTC).

Among these, the largest allocations were in BlackRock’s Bitcoin fund, where Millennium invested over $844 million, and in Fidelity’s fund, where it held just over $806 million in FBTC shares.

Bloomberg ETF analyst Eric Balchunas highlighted Millennium’s significant position in the market, noting that the hedge fund’s exposure was 200 times that of the average among new ETF holders in the top 500.

The disclosure coincided with a flurry of 13F filings, providing insights into the uptake of spot Bitcoin ETFs. Matt Hougan, chief investment officer at Bitwise, expressed increased optimism about Bitcoin’s prospects based on these filings. He remarked in a memo to investors that the “bullish” data reflected a strong institutional interest in Bitcoin ETFs, which he views positively for the cryptocurrency’s future.

Hougan pointed out that a majority of the new Bitcoin ETF investments were from advisory firms, making up about 60%, with hedge funds comprising about 25% of the buyers.

He also drew attention to several notable firms that had invested in these Bitcoin products, including Hightower Advisors, Bracebridge Capital, and Cambridge Investment Research. Hougan projected that by the May 15 filing deadline, over 700 professional firms might report holdings, potentially pushing the total assets under management in these funds to nearly $5 billion.

Further adding to the disclosures, the State of Wisconsin reported on May 14 that it had investments totaling $164 million in two funds managed by Grayscale and BlackRock, underlining the broadening base of institutional engagement with Bitcoin ETFs.

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