Synopsis
Hedge funds, pensions, and banks invested significantly in Bitcoin-focused ETFs as the asset gained mainstream acceptance with the help of US regulators. Major players like Millennium Management and other firms from around the world engaged. The funds experienced a net inflow of $17 billion this year, bolstered by BlackRock’s $20 billion IBIT.
Hedge funds, pensions and banks continued to lavish capital into exchange-traded funds that invest directly in Bitcoin, as more traditional investors embrace the asset class that US regulators begrudgingly helped push into the mainstream at the beginning of the year.
Among the most well-known buyers that have emerged are hedge funds like Millennium Management, which held shares in at least five Bitcoin ETFs, according to a analysis of second-quarter filings with the US Securities and Exchange Commission. The firm, which has $68 billion in assets under management, trimmed its stakes in the ETFs significantly from the prior quarter but remained as the top holder for most of the funds, including BlackRock’s iShares Bitcoin Trust.
Capula Investment Management, Schonfeld Strategic Advisors and Steven Cohen’s Point72 Asset Management also reported stakes in the ETFs. Other buyers ranged from the State of Wisconsin Investment Board to market makers among firms crossing geographies from Hong Kong to the Cayman Islands, Canada and Switzerland.
Crypto Tracker
TOP COIN SETSDeFi Tracker3.84% BuyBTC 50 :: ETH 50-1.88% BuyCrypto Blue Chip – 5-2.24% BuyNFT & Metaverse Tracker-3.19% BuyWeb3 Tracker-5.20% BuyTOP COINS (₹) Tether84 (-0.24%)BuyBitcoin4,870,647 (-0.7%)BuyBNB43,374 (-0.9%)BuySolana11,935 (-1.82%)BuyEthereum216,379 (-2.81%)BuyThere were 701 new funds reporting spot-Bitcoin ETF holdings following Wednesday’s deadline to file second-quarter 13F reports with the SEC, data compiled by show, bringing the total number of holders to almost 1,950. Millennium, Capula, Schonfeld, SWIB and Point72 declined to comment.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details »The spot-Bitcoin ETFs that debuted in January have smashed expectations in terms of flows and assets. In all, the cohort, including newer entrants, has attracted a net inflow of $17 billion this year, with BlackRock’s IBIT swelling into a $20 billion behemoth. The existence of such ETFs has given everyday investors an easier way to trade in and out of Bitcoin.
