PANews reported on August 16 that hedge funds, pensions and banks continue to invest heavily in direct Bitcoin ETFs, according to Bloomberg. According to an analysis of the second quarter documents of the U.S. Securities and Exchange Commission, the most well-known buyers currently include hedge funds such as Millennium Management, which holds shares in at least five Bitcoin ETFs. The company manages $68 billion in assets and has significantly cut its ETF holdings from the previous quarter, but it is still the largest holder of most funds, including BlackRock's iShares Bitcoin Trust (IBIT).

Capula Investment Management, Schonfeld Strategic Advisors and Steven Cohen's Point72 Asset Management also reported holdings in these ETFs. Other buyers included the Wisconsin Investment Board and market makers from Hong Kong, the Cayman Islands, Canada and Switzerland. In addition, buyers in the second quarter included hedge fund Hunting Hill Global Capital, which reported holdings of IBIT and has been involved in the cryptocurrency field since 2016, according to its founder and chief investment officer Adam Guren.

Data compiled by the media outlet shows that after Wednesday’s deadline for filing second-quarter 13F reports with the U.S. Securities and Exchange Commission, 701 new funds reported holdings in spot Bitcoin ETFs, bringing the total number of holders to nearly 1,950.