Hedge Fund Millennium Management Reveals $2 Billion Holdings Across Five Spot Bitcoin ETFs

Worldwide hedge fund Millennium Administration revealed that it holds slightly below $2 billion in spot Bitcoin ETFs (exchange-traded funds), underscoring the growing curiosity within the king of cryptos from institutional traders.

The choice funding agency, which manages greater than $64 billion in property, held a complete of $1.94 billion in shares throughout 5 spot BTC ETFs as of Mar. 31, a 13F submitting with the US Securities and Trade Fee (SEC) reveals.

BlackRock’s IBIT Millennium’s Greatest Spot Bitcoin ETF Place

Millennium invested $844 million in BlackRock’s IBIT, making it the agency’s largest spot Bitcoin ETF holding. Constancy’s BTC ETF is its second-largest holding with barely over $806 million.

The submitting confirmed that Millennium additionally held shares within the ARK 21Shares Bitcoin ETF, the Bitwise Bitcoin ETF and the Grayscale Bitcoin Belief.

The hedge fund is uncovered to identify BTC ETFs to the tune of about 200x greater than the common of the the highest 500 new holders, in response to Bloomberg ETF analyst Eric Balchunas. That prompted him to name the hedge fund the “king” of Bitcoin ETF holders. 

Millennium is king of the bitcoin ETF holders w/ about $2b throughout 4 ETFs. That is out of over 500 holders (about 200x the avg for brand spanking new ETF). Majority are inv advisors (60%) however a giant dose of HFs (25%). By no means might be completely certain what HFs as much as however they have been def large patrons. pic.twitter.com/iVtVXjhId0

— Eric Balchunas (@EricBalchunas) May 15, 2024

Balchunas additionally revealed that roughly 60% of latest spot BTC ETF patrons have been advisory corporations. In the meantime, round 25% of latest BTC ETF holders are hedge funds, he mentioned.

Vanguard Staying True To Its Anti-Crypto Philosophy

Whereas advisory corporations and establishments diversify their portfolios by way of spot Bitcoin ETFs, funding big Vanguard has mentioned it gained’t reverse its resolution to not launch its personal spot BTC ETF.

This comes after the previous head of BlackRock’s international ETF enterprise, Salim Ramji, was appointed as Vanguard’s new CEO. Preliminary hypothesis that this is able to result in Vanguard launching a spot Bitcoin ETF subsided after Ramji mentioned the corporate will stay true to its anti-crypto “funding philosophy.”

“I feel it’s vital for corporations to have consistency by way of what they stand for and the services and products they provide,” mentioned Ramji in an interview with Barron’s that was revealed on Might 15.

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