{"id":166160,"date":"2024-05-16T11:21:51","date_gmt":"2024-05-16T11:21:51","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=166160"},"modified":"2024-05-16T11:21:55","modified_gmt":"2024-05-16T11:21:55","slug":"institutional-support-for-btc-is-higher-than-ever-as-global-investment-firm-unveils-2b-in-bitcoin-etf-holdings","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/institutional-support-for-btc-is-higher-than-ever-as-global-investment-firm-unveils-2b-in-bitcoin-etf-holdings\/","title":{"rendered":"Institutional Support for BTC is Higher than Ever as Global Investment Firm Unveils $2B in Bitcoin ETF Holdings"},"content":{"rendered":"<p style=\"text-align: justify\">TL;DR<\/p>\n<ul>\n<li style=\"text-align: justify\">Global investment firm Millennium Management <strong>reveals its participation in Bitcoin ETFs in the first quarter of 2024.<\/strong><\/li>\n<li style=\"text-align: justify\">The firm holds <strong>around $1.9 billion in BTC ETFs<\/strong>, distributed across various products from different issuers.<\/li>\n<li style=\"text-align: justify\">More than <strong>563<\/strong> <strong>companies<\/strong> report a combined investment of <strong>$3.5 billion<\/strong>.<br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong>Millennium Management, a global investment firm with over $60 billion in assets under management, has <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1273087\/000127308724000071\/xslForm13F_X02\/MLP_13F_2024Q1.xml\" target=\"_blank\" rel=\"noopener\">revealed<\/a> its participation in <a href=\"https:\/\/crypto-economy.com\/bitcoin-etf\/\" target=\"_blank\" rel=\"noopener\">Bitcoin exchange-traded funds (ETFs)<\/a><\/strong> during the first quarter of 2024. The data was outlined in a recent 13F report filed with the Securities and Exchange Commission (SEC).<!--more--><\/p>\n<p style=\"text-align: justify\">According to the report, Millennium holds approximately<strong> $1.9 billion in a variety of Bitcoin ETFs traded in the United States.<\/strong> Its largest holdings include <strong>BlackRock&#8217;s<\/strong> iShares Bitcoin Trust (IBIT), <strong>Fidelity&#8217;s<\/strong> Wise Origin Bitcoin Fund (FBTC), and the <strong>Grayscale<\/strong> Bitcoin Trust ETF (GBTC). Additionally, the firm has smaller investments in the ARK 21Shares Bitcoin ETF (ARKB) and the Bitwise Bitcoin ETF (BITB), demonstrating good diversification in its portfolio.<\/p>\n<p style=\"text-align: justify\">Millennium joins the trend. Other significant asset managers are also increasing their stakes in BTC ETFs. <strong>Pine<\/strong> <strong>Ridge<\/strong>, for example, <strong>has reported an investment of $205 million in IBIT, FBTC, and BITB<\/strong>. Similarly, <strong>Schonfeld<\/strong> <strong>Strategic<\/strong> <strong>Advisors<\/strong> has made an investment of <strong>$248 million in IBIT and $231.8 million in FBTC<\/strong>, totaling $479 million.<\/p>\n<p style=\"text-align: justify\">According to Matt Hougan, Chief Investment Officer at Bitwise, there has been significant growth in the number of professional investment firms holding BTC ETFs. M<strong>ore than 563 companies report a combined investment of $3.5 billion in the latest report<\/strong>. It is expected that this number will surpass 700 companies, approaching a total of $5 billion in assets under management.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-84066\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/05\/btc-mill-post.jpg\" alt=\"bitcoin millennium post\" width=\"825\" height=\"549\" \/><\/p>\n<h2>Millennium Boosts Institutional Investment in Bitcoin<\/h2>\n<p style=\"text-align: justify\">Hougan <strong>compared the interest in <a href=\"https:\/\/crypto-economy.com\/buy-bitcoins\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> ETFs to the successful launch of gold ETFs in 2004,<\/strong> which attracted over $1 billion in their first five days of trading. The rapid growth in interest in BTC ETFs marks <strong>a shift in the perception of cryptocurrencies by institutional investors.<\/strong><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-76716\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/01\/etf-btc.jpg\" alt=\"bitcoin etf post\" width=\"825\" height=\"300\" \/><\/p>\n<p style=\"text-align: justify\">Although most investments in ETFs <strong>currently come from retail investors<\/strong>, Hougan suggests that there will be a shift in this trend, resulting in greater institutional participation in the near future. He used <strong>Hightower<\/strong> <strong>Advisors<\/strong> as an example, <strong>a firm that has allocated $68 million to BTC ETFs<\/strong>, representing only a minimal fraction of its total assets. However, such allocations will increase over time, potentially becoming a significant portion of institutional portfolios.<\/p>\n<p style=\"text-align: justify\">Millennium Management&#8217;s investment in BTC represents a significant advancement in institutional adoption of the crypto market. There is growing confidence in the long-term potential of digital assets, paving the way for greater adoption in the conventional financial realm.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Global investment firm Millennium Management reveals its participation in Bitcoin ETFs in the first quarter of 2024. The firm holds around $1.9 billion in BTC ETFs, distributed across various products from different issuers. More than 563 companies report a combined investment of $3.5 billion. Millennium Management, a global investment firm with over $60 billion &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Institutional Support for BTC is Higher than Ever as Global Investment Firm Unveils $2B in Bitcoin ETF Holdings\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/institutional-support-for-btc-is-higher-than-ever-as-global-investment-firm-unveils-2b-in-bitcoin-etf-holdings\/#more-166160\" aria-label=\"More on Institutional Support for BTC is Higher than Ever as Global Investment Firm Unveils $2B in Bitcoin ETF Holdings\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":166161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,70,74],"tags":[4602,4606,4656,4986],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/166160"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=166160"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/166160\/revisions"}],"predecessor-version":[{"id":166162,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/166160\/revisions\/166162"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/166161"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=166160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=166160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=166160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}