Billionaire Steve Cohen's Point72 hedge fund held $77.5 million worth of Fidelity Wise Origin Bitcoin Fund in the first quarter of this year, CoinDesk reported. Point72 joins several other hedge funds that have publicly disclosed investments in Bitcoin spot ETFs. According to a filing, Point72 held $77.5 million worth of Fidelity Wise Origin Bitcoin Fund (FBTC) at the end of the first quarter. Previously, several other hedge funds, including Paul Singer's Elliott Capital and Izzy Englander's Millennium Management, had publicly disclosed that they had purchased shares of Bitcoin spot exchange-traded funds, with the latter being the largest institutional holder of the new fund, with about $2 billion in the fund as of March 31. According to data compiled by Bitcoin brokerage River, 13 of the top 25 hedge funds in the United States bought these ETFs in the first quarter.
