Jim Simons’ Renaissance Tech Invests in GameStop Shares and Bitcoin ETF
American mathematician-investor Jim Simons’ Renaissance Technologies has disclosed its position in GameStop (GME) and spot Bitcoin ETF, according to a recent filing with the US Securities and Exchange Commission (SEC).
Renaissance Technologies Announces Investment in GameStop and Spot Bitcoin ETF
According to a 13F filing with the US Securities and Exchange Commission (SEC), Renaissance Technologies opened a position in GameStop (GME) shares and invested in the spot Bitcoin ETF. The company purchased more than 1 million GME shares worth $12,582.
GameStop (GME) stock price rose over 48% on Wednesday, hitting a 52-week high of $64.83. GME stock price is up over 180% in the last 2 days as trader Keith Patrick Gill, known as “Roaring Cat”, returns to Twitter (X) after almost 3 years.
Renaissance Technologies also invests in spot Bitcoin ETFs, making only small and diversified investments. The company invested a total of $11,939 in Fidelity Wise Origin Bitcoin ETF (FBTC), Bitwise Bitcoin ETF (BITB), Ark 21Shares Bitcoin ETF (ARKB), Invesco Galaxy Bitcoin ETF (BTCO), and Grayscale GBTC.
Many mutual funds and investment boards, including hedge fund Bracebridge Capital and the Wisconsin State Board of Investments, have recently disclosed holdings in U.S. spot Bitcoin ETFs.
So read: Jerome Powell Speech: After Inflation Data, Fed President Is A Little Hawkish, Bitcoin Tension Is Increasing
Resurgent Interest in Spot Bitcoin ETFs
Spot Bitcoin ETFs in the US saw net inflows of $66 million on Monday. Fidelity and Bitwise recorded $38.6 million and $20.3 million, while other spot Bitcoin ETFs witnessed zero inflows.
GBTC also witnessed zero flows and with spot Bitcoin ETFs turning positive overall, hopes have been revived that Bitcoin price will rise in the coming days.
BTC price is down around 3% today and the price is currently trading back around $61,000. The 24-hour low and high are $61,156 and $63,422 respectively. However, the 11% increase in trading volume in the last 24 hours indicates that interest among investors has increased.
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
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