Millennium Became the Largest IBIT, FBTC ETF Owner with $2 Billion Shares
Millennium Management announced the holdings that make it the largest owner of Bitcoin ETFs, especially iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC).
This involvement is evidenced by Millennium Management’s recent SEC filing, which shows that its shares are now worth almost $2 billion; This represents about 3% of its $64 billion fund.
Millennium’s Bitcoin ETF Holdings
Millennium Management’s 13F-HR SEC filing provides a comprehensive overview of investments in several major Bitcoin ETFs. The company has set aside $844,181,820 for BlackRock’s iShares Bitcoin Trust, which is now the largest single holding.
Next comes the Fidelity Wise Origin Bitcoin Fund, which received $806,640,303 from Millennium.
Other significant investments are $202,029,915 in the Grayscale Bitcoin Trust and smaller but still significant sums of money in the ARK 21Shares Bitcoin ETF and Bitwise Bitcoin ETF equaling $45,001,320 and $44,737805 respectively.
Strategic placement of investments across different ETFs not only spreads risks but also demonstrates Millennium’s bullish attitude towards Bitcoin as an asset class.
The company’s choice to intensify participation in cryptocurrency shows its great belief in the fact that digital currencies will still be incorporated into the mainstream financial system.
Institutional Interest in Bitcoin ETFs Grows
Institutional interest in Bitcoin ETFs is growing, as recent SEC filings from other financial institutions show. Boothbay Fund Management and the Wisconsin State Board of Investment are among other major players investing heavily in Bitcoin ETFs, evidence of growing institutional interest.
As reported by Coingape, Boothbay Fund Management announced its $377 million investment in various Bitcoin ETFs, and the Wisconsin board announced investments of approximately $162 million in BlackRock’s IBIT and Grayscale’s GBTC.
Simultaneously, companies such as Hightower Advisors, SouthState Bank, and even large companies such as JPMorgan Chase have entered this market, showing that they rely on Bitcoin ETFs as an investment tool.
Bitcoin’s Price Trend
The increasing adoption of Bitcoin ETFs comes at a time when Bitcoin itself is seeing significant price movements. Recently, the price of Bitcoin rose by 7% in the last 24 hours to $66,000.
This price action is directly correlated with the latest US Consumer Price Index (CPI) data, which shows a decline in core inflation that could affect investor sentiment towards digital assets as a hedge against economic instability.
Also read: Did Morgan Stanley’s $243 Million Bet on GBTC Accelerate Bitcoin’s Rise?
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Kelvin is a distinguished author specializing in crypto and finance, with a bachelor’s degree in Actuarial Science. Known for her sharp analysis and insightful content, she is fluent in English and specializes in comprehensive research and on-time delivery.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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