As a seasoned crypto investor with a background in mathematics, I’ve always kept a close eye on market trends and institutional investors’ moves. The recent revelation by Renaissance Technologies about their investments in GameStop (GME) shares and spot Bitcoin ETFs has piqued my interest.
According to a recent SEC filing, renowned American mathematician-turned-investor Jim Simons’ firm, Renaissance Technologies, has disclosed its holdings in GameStop (GME) and a Bitcoin exchange-traded fund (ETF).
Renaissance Technologies Reveals Investment in GameStop and Spot Bitcoin ETF
Based on a filing with the U.S. Securities and Exchange Commission (SEC), Renaissance Technologies revealed new investments: they acquired more than one million GameStop (GME) shares, valued at approximately $12,582, and put resources into Bitcoin spot ETFs.
The price of GameStop (GME) stocks experienced a significant jump of more than 48% on Wednesday, reaching a new 52-week high of $64.83. This surge in value can be attributed to the return of influential trader Keith Patrick Gill, also known as “Roaring Kitty,” to Twitter after an absence of almost 3 years.
Renaissance Technologies has made modest investments in various spot Bitcoin Exchange-Traded Funds (ETFs). The company’s total investment includes $11,939 each in Fidelity Wise Origin Bitcoin ETF (FBTC), Bitwise Bitcoin ETF (BITB), Ark 21Shares Bitcoin ETF (ARKB), Invesco Galaxy Bitcoin ETF (BTCO), and Grayscale Bitcoin Trust (GBTC).
Multiple investment firms and committees, such as Bracebridge Capital, a hedge fund, and the State of Wisconsin Investment Board, have disclosed ownership of Bitcoin spot Exchange-Traded Funds (ETFs) based in the US in their latest filings.
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Interest in Spot Bitcoin ETFs Revives
On Monday in the United States, Bitcoin exchange-traded funds (ETFs) experienced a total net investment of $66 million. Fidelity and Bitwise specifically attracted inflows worth $38.6 million and $20.3 million respectively. No other spot Bitcoin ETFs reported any new investments that day.
GBTC experienced no inflow recently, fueling optimism for a potential increase in Bitcoin prices in the near future, given the overall positive trend in spot Bitcoin ETFs.
The price of Bitcoin dipped around 3% today, bringing it close to the $61,000 mark once more. The lowest and highest figures in the past 24 hours were recorded at $61,156 and $63,422 respectively. Notably, the trading volume has grown by approximately 11% within this timeframe, suggesting a heightened level of engagement from investors.
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2024-05-14 21:44