Millennium Management Discloses $2.6B in Bitcoin ETFs, $182M in Ethereum ETFs Amid Rising Institutional Interest
Institutional investment in digital assets continues to gain momentum as major hedge funds and financial firms expand their crypto exposure. Millennium Management, one of the world’s largest hedge funds, revealed holdings of $2.6 billion in Bitcoin ETFs and $182.1 million in Ethereum ETFs in its latest 13F filing with the U.S. Securities and Exchange Commission (SEC).
Millennium’s Bitcoin ETF portfolio is diversified across multiple funds, with BlackRock’s iShares Bitcoin Trust (IBIT) leading at over $844 million, followed by Fidelity’s Bitcoin ETF at more than $806 million. Additional holdings include the ARK 21Shares Bitcoin ETF, the Bitwise Bitcoin ETF, and the Grayscale Bitcoin Trust.
The disclosure reflects a growing trend of institutional crypto adoption. Abu Dhabi’s sovereign wealth fund recently invested $436.9 million in BlackRock’s spot Bitcoin ETF, while Goldman Sachs increased its Bitcoin ETF holdings to $1.5 billion.
As of May 2024, Millennium’s Bitcoin ETF investments neared $2 billion across five major funds, accounting for roughly 3% of its total assets. This shift highlights the increasing role of digital assets in traditional finance as hedge funds and institutions deepen their exposure to cryptocurrency markets.
Featured image from: cryptobriefing.com