Happycoin.club - International hedge fund Millennium Management invested almost $2 billion in spot Bitcoin ETFs and turned out to be the largest investor in this type of derivatives.
In the first quarter, the company bought shares of five Bitcoin ETFs: ARK 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), Grayscale Bitcoin Trust (GBTC), iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin ETF (FBTC). The firm held $1.94 billion worth of shares in these investment vehicles as of March 31.
Millennium is the king of Bitcoin ETF shareholders, holding shares in four funds [actually five] worth about $2 billion. It is one of more than 500 unitholders, most of whom are investment advisory organizations (60%), but with a large share of hedge funds (25%).
You can never be sure what's on the minds of hedge fund management, but they certainly turned out to be big players, wrote analyst Eric Balchunas.
Matt Hogan, chief investment officer of Bitwise, which issued the Bitcoin ETF BITB, claims that BTC-based funds are attracting the interest of not only large hedge funds such as Millennium Management, but also many professional investors. In this regard, he believes that by May 15, the number of owners of BITB units will exceed 700, and the amount of funds invested in the derivative will reach $5 billion. Currently, the capitalization level of this Bitcoin ETF is estimated at only $2.1 billion.
