In a new disclosure, investment management company Millennium Management has revealed holdings of almost $2 billion in spot Bitcoin ETFs. This revealing was made through a SEC 13F-HR institutional investment manager holdings report filed today, and underscores the increasing interest and investment in Bitcoin ETFs by major institutional players.
JUST IN: ????????Millennium Management discloses it holds $2 billion in spot #Bitcoin ETFs in new SEC filing ???? pic.twitter.com/hHzlWbHr9c
— Bitcoin Magazine (@BitcoinMagazine) May 15, 2024
The firm reported owning for a combined total of $1,942,591,163:
- $844,181,820 of BlackRock's iShares Bitcoin Trust
- $45,001,320 of ARK 21Shares Bitcoin ETF
- $44,737,805 of Bitwise Bitcoin ETF
- $202,029,915 of Grayscale Bitcoin Trust
- $806,640,303 of Fidelity Wise Origin Bitcoin Fund
Millennium Management's substantial investment comes just a day after the State of Wisconsin Investment Board (SWIB) disclosed its holdings of almost $100 million in BlackRock's spot Bitcoin ETF (IBIT) and $62 million in Grayscale's GBTC. This wave of institutional interest highlights a growing trend among major financial entities to include Bitcoin ETFs in their portfolios.
The recent surge in 13F filings has seen a variety of institutions announcing their Bitcoin ETF holdings. This includes not only investment firms like Millennium and SWIB but also traditional financial giants such as JPMorgan Chase. JPMorgan, America's largest bank, recently disclosed its own holdings in spot Bitcoin ETFs, noting its role as a market maker for these investment vehicles.
The trend signifies a broader acceptance and integration of Bitcoin into mainstream financial markets. Bitcoin ETFs, which provide a regulated and accessible way for institutions to gain exposure to Bitcoin without holding the asset directly, have been gaining traction since their launch in the United States earlier this year.
Millennium Management's nearly $2 billion investment in spot Bitcoin ETFs marks one of the largest institutional commitments to date. The ripple effect of disclosures like this are likely to be far-reaching.
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