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Big Names Continue to Invest in Bitcoin ETFs

More prominent players in the financial industry have disclosed their allocations into spot bitcoin exchange-traded funds, with institutional investors making significant moves.

Wednesday’s deadline for filing quarterly 13F reports with the U.S. Securities and Exchange Commission has shed light on the positions of major players as of March 31, 2024.

Following the State of Wisconsin’s surprising $161 million investment disclosure earlier this week, other investment whales have joined the wave of success in the ETF market.

Hedge fund Millennium Management, managing over $64 billion in assets, has revealed investments of around $2 billion spread across various spot bitcoin ETFs, as indicated in its SEC filing.

The fund, under the leadership of billionaire Izzy Englander, has shown a significant stake of approximately $844 million in BlackRock’s iShares Bitcoin Trust (IBIT). Additionally, it holds more than $800 million in the Fidelity Wise Origin Bitcoin Fund (FBTC), $202 million in Grayscale’s Bitcoin Trust (GBTC), and stakes in ARK/21’s ARKB and Bitwise’s BITW.

Another major player, Paul Singer’s Elliott Capital, disclosed a stake of nearly $12 million in BlackRock’s IBIT by the end of the quarter.

Furthermore, Apollo Management Holdings disclosed a $53.2 million stake in ARK/21’s ARKB at the quarter’s end.

On the same day, Aristeia Capital and Hudson Bay Capital also unveiled their investments in spot bitcoin funds.

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