Bitrabo Editorial
Quarterly filings with the US Securities and Exchange Commission (SEC) came to a close recently, unveiling a significant move by institutional investors towards Bitcoin exchange-traded funds (ETFs), with Millennium Management leading the pack in this emerging asset class.
Millennium Management Takes the Lead
Millennium Management, managed by billionaire Izzy Englander, disclosed a monumental $2 billion investment in various Bitcoin ETFs, establishing its position as a major player in Bitcoin ETF ownership and signaling increasing acceptance within traditional investment circles.
The breakdown of Millennium’s investments shows allocations across five key funds: BlackRock’s iShares BTC Trust (IBIT), Fidelity’s Wise Origin BTC Fund (FBTC), Grayscale’s BTC Trust (GBTC), ARK’s BTC ETF (ARKB), and Bitwise’s BTC ETF (BITB).
Industry expert MacroScope noted, “Major revelation post-market closure today. A crucial BTC disclosure attracting significant attention from asset managers.” This news closely follows Wisconsin’s disclosure of investments in BlackRock’s IBIT and Grayscale’s GBTC.
According to ETF analyst Eric Balchunas, Millennium’s diversified investments in multiple Bitcoin ETFs are unprecedented, making them a standout holder in the market. The majority of these investments come from investment advisors (60%) and hedge funds (25%), indicating growing institutional interest in Bitcoin.
Balchunas highlighted the rapid liquidity accumulation and institutional interest in IBIT, noting its unique position as a recently launched ETF.
Millennium holds a significant position in Bitcoin ETFs with about $2 billion across four ETFs. This stands out amidst over 500 holders, showcasing diverse investor types. pic.twitter.com/iVtVXjhId0
— Eric Balchunas (@EricBalchunas) May 15, 2024
Balchunas added, “Such a diverse investor landscape is uncommon for a newly launched ETF, reflecting strong market confidence in Bitcoin’s investment potential.”
Other financial giants like Elliott Capital and Apollo Management Holdings also disclosed investments in various Bitcoin ETFs, contributing to the growing total assets under management of all available Bitcoin ETFs, now amounting to $12.1 billion.
The surge in investments from hedge funds and asset managers, as well as other prominent entities, showcases the evolving perception of Bitcoin as a mainstream investment asset rather than just a speculative option, attracting a wide range of financial institutions.
Latest Bitcoin trading prices show BTC at $65,771.