Top Hedge Funds Like Millennium and Elliott are Now Betting Big on Bitcoin ETFs
Key players in the financial industry have made significant investments in spot bitcoin exchange-traded funds (ETFs).
On Wednesday, institutional investors were required to submit their quarterly 13F reports to the U.S. Securities and Exchange Commission (SEC), detailing their investment holdings as of March 31, 2024.
00:33
Guild of Guardians: Redefining Web3 Gaming, Says Game Director
00:57
Pepe Sets New Record as GameStop’s Rally Continues
01:38
Bitcoin Climbs Amid Lower-than-Expected CPI; Circle Seeks to Relocate Legal Base to the U.S.
15:40
Is the U.S. Economy Experiencing Stagflation?
The day before, the State of Wisconsin made headlines with the revelation of a $161 million investment in these ETFs. Following Wisconsin’s lead, several other large-scale investors have disclosed their substantial investments, contributing to the ETFs’ unprecedented success.
One notable investor, Millennium Management—managed by billionaire Izzy Englander and overseeing assets surpassing $64 billion—reported holdings of approximately $2 billion across various spot bitcoin ETFs. Millennium’s largest stake was in BlackRock’s iShares Bitcoin Trust (IBIT), amounting to about $844 million. Additional investments included over $800 million in the Fidelity Wise Origin Bitcoin Fund (FBTC) and $202 million in Grayscale’s Bitcoin Trust (GBTC), along with shares in ARK/21’s ARKB and Bitwise’s BITW.
Similarly, Paul Singer’s Elliott Capital disclosed a $12 million position in BlackRock’s IBIT at the quarter’s end.
Apollo Management Holdings also reported a stake valued at $53.2 million in ARK/21’s ARKB by the end of the quarter.
Additionally, significant allocations into spot bitcoin funds were announced by Aristeia Capital and Hudson Bay Capital.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. It adheres to a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, which also owns Bullish, a regulated digital assets exchange. The Bullish group is majority-owned by Block.one. Both companies have investments in various blockchain and digital asset ventures and hold significant amounts of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to maintain journalistic independence. CoinDesk staff, including journalists, may receive equity options in the Bullish group as part of their compensation.
Helene is a New York-based reporter who focuses on Wall Street, the rise of spot bitcoin ETFs, and crypto exchanges. She is also the co-host of CoinDesk’s Markets Daily show. Helene graduated from New York University’s business and economic reporting program and has appeared on CBS News, Yahoo Finance, and Nasdaq TradeTalks. She holds BTC and ETH.
Follow @HeleneBraunn on Twitter
Discover more about Consensus 2024, CoinDesk’s premier event that brings together all dimensions of crypto, blockchain, and Web3. Visit consensus.coindesk.com to register and secure your pass today.
