Key Points
- Millennium Management revealed holdings of $2.6 billion in Bitcoin ETFs and $182.1 million in Ethereum ETFs.
- Institutional investment in cryptocurrency is increasing, with organizations such as Abu Dhabi’s sovereign fund and Goldman Sachs boosting their Bitcoin ETF investments.
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Millennium Management has reported its Bitcoin ETF holdings amount to $2.6 billion and Ethereum ETFs valued at $182.1 million in its most recent 13F filing with the SEC.
The hedge fund’s Bitcoin ETF investments are diversified across several funds, with BlackRock’s IBIT being the largest holding at over $844 million, followed closely by Fidelity’s fund with just over $806 million.
Other notable holdings comprise the ARK 21Shares Bitcoin ETF, the Bitwise Bitcoin ETF, and the Grayscale Bitcoin Trust.
This filing highlights a growing trend in institutional crypto investments, evidenced by Abu Dhabi’s sovereign wealth fund acquiring $436.9 million in BlackRock’s spot Bitcoin ETF during the quarter. Goldman Sachs has also escalated its Bitcoin ETF investments to $1.5 billion.
As of May 2024, Millennium Management’s investment in Bitcoin ETFs neared $2 billion across five major funds, constituting only 3% of their total assets.
