Over half of the top 25 U.S. hedge funds have invested in Bitcoin ETFs, with the cryptocurrency significantly outperforming major stocks and indexes. Notably, Millennium Management has 2.5% of its total assets in Bitcoin, worth $1.69 billion. Other key players include Schonfeld Strategic Advisors and Point72 Asset Management. This trend coincides with a rise in cash reserves across U.S. firms, many of which have allocated a portion of their reserves to Bitcoin or Bitcoin ETFs. Bitcoin's returns in H1 2024 were about 94%, outperforming the S&P 500 index, the Dow Jones Industrial Average, and even Apple and Tesla stocks.