Sign Up on MEXCBreaking: Millennium Management $2B Stake Crown It Largest IBIT, FBTC ETF Holder
Highlights
- Millennium Management invests $2B in Bitcoin ETFs, holds 3% of its $64B fund.
- IBIT and FBTC are top Bitcoin ETF holdings, with $844M and $806M invested.
- Bitcoin ETFs attract major players like JPMorgan and State of Wisconsin Board.
Millennium Management has disclosed holdings that make it the largest holder of Bitcoin ETFs, notably the iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC).
This participation is evidenced by the recent SEC filing that shows Millennium Management’s stakes now cover almost $2 billion, which is about 3% of its fund worth $64 billion.
Millennium’s Bitcoin ETF Holdings
Millennium Management’s 13F-HR SEC filing gives a comprehensive overview of its investments in the numerous major Bitcoin ETFs. The company has set aside $844,181,820 for BlackRock’s iShares Bitcoin Trust, which is now the biggest single holding.
After that comes the Fidelity Wise Origin Bitcoin Fund, which has received $806,640,303 from Millennium.
The other significant investments are $202,029,915 in the Grayscale Bitcoin Trust and smaller but still important amounts of money in the ARK 21Shares Bitcoin ETF and Bitwise Bitcoin ETF, which are equal to $45,001,320 and $44,737805, respectively.
Millennium Management disclosed a ~$2b Bitcoin ETF holding as of Q1, 3% of their $64b fund. Kinda wild
— db (@tier10k) May 15, 2024
This strategic placement of the investments in different ETFs not only spreads out the risks but also shows Millennium’s bullish attitude towards Bitcoin as an asset class.
The company’s choice to intensify the participation in cryptocurrency shows a great faith in the fact that digital currencies will still be incorporated into the mainstream financial system.
Growing Institutional Interest in Bitcoin ETFs
Institutional interest in Bitcoin ETFs is increasing, as shown by recent SEC filings from other financial institutions. Boothbay Fund Management and the State of Wisconsin Investment Board are among other big players that have invested heavily in Bitcoin ETFs, which proves that institutional interest is on the rise.
As reported by Coingape, Boothbay Fund Management publicized its $377 million investment in different Bitcoin ETFs, and the Wisconsin board disclosed its nearly $162 million invested in BlackRock’s IBIT and Grayscale’s GBTC.
Concurrently, firms like Hightower Advisors, SouthState Bank, and even big companies like JPMorgan Chase have entered this market, which shows that they are confident in Bitcoin ETFs as investment vehicles.
Bitcoin’s Price Trend
The growing acceptance of Bitcoin ETFs comes at a time when Bitcoin itself has seen considerable price movements. Recently, Bitcoin’s price surged to $66,000, marking a 7% increase in the last 24 hours.
This price movement is in direct relation to the latest U.S. Consumer Price Index (CPI) data, which has shown a decrease in core inflation that might influence investor sentiment toward digital assets as a hedge against economic instability.
Read Also: Did Morgan Stanley’s $243M Bet On GBTC Fuel Bitcoin Rebound?
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