{"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":"
TL;DR<\/p>\n
Millennium Management, a global investment firm with over $60 billion in assets under management, has revealed<\/a> its participation in 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).<\/p>\n According to the report, Millennium holds approximately $1.9 billion in a variety of Bitcoin ETFs traded in the United States.<\/strong> Its largest holdings include BlackRock’s<\/strong> iShares Bitcoin Trust (IBIT), Fidelity’s<\/strong> Wise Origin Bitcoin Fund (FBTC), and the 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 Millennium joins the trend. Other significant asset managers are also increasing their stakes in BTC ETFs. Pine<\/strong> Ridge<\/strong>, for example, has reported an investment of $205 million in IBIT, FBTC, and BITB<\/strong>. Similarly, Schonfeld<\/strong> Strategic<\/strong> Advisors<\/strong> has made an investment of $248 million in IBIT and $231.8 million in FBTC<\/strong>, totaling $479 million.<\/p>\n According to Matt Hougan, Chief Investment Officer at Bitwise, there has been significant growth in the number of professional investment firms holding BTC ETFs. More 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>\n
Millennium Boosts Institutional Investment in Bitcoin<\/h2>\n