As a researcher, I find it fascinating to witness the increasing adoption of Bitcoin ETFs by various institutional investors. Millennium Management’s recent move to acquire over $2 billion worth of these products places them at the forefront of this trend. It is impressive to see such a diverse group of institutions, including hedge funds, pension funds, and asset management giants, taking an interest in Bitcoin through ETFs.
Eric Balchunas, Bloomberg’s head of ETF strategy, reports that Millennium Management, a prominent hedge fund, currently holds over $2 billion in investments in Bitcoin Exchange-Traded Funds (ETFs).
The company has obtained holdings from the IBIT fund of BlackRock, Fidelity’s FBTC, as well as Grayscale’s GBTC and other similar investment vehicles.
Israel Englander, an American billionaire, heads a hedge fund that currently leads the pack among Exchange-Traded Fund (ETF) investors.
Industry onlookers anticipated that companies would file their 13F forms prior to the May 15th cut-off. These documents offered insights into the growing trend of Bitcoin ETF acceptance within the industry.
Based on Balchunas’ findings, it’s noteworthy that a diverse range of institutional investors hold the initial batch of ETFs.
According to U.Today’s report, the Wisconsin Investment Board (SWIB), the entity responsible for managing the state pension funds, announced a significant investment in Bitcoin, totaling approximately $100 million.
Five notable financial institutions – Pine Ridge Advisers, Edmond de Rothschild (Switzerland), JPMorgan, Wells Fargo, and Susquehanna International Group – are known to own Bitcoin Exchange-Traded Funds (ETFs).
The majority of the advisors on the list are hedge funds, with a few hedge funds added in. Notably, as per Balchunas, no university endowments have been included in the list at this time.
Vanguard remains on the sidelines
Bitcoín Exchange-Traded Funds (ETFs) are experiencing a significant increase in demand, yet Vanguard appears unwilling or unable to join in.
As an analyst, I’ve reviewed recent developments regarding Vanguard’s upcoming CEO transition, and according to my analysis, Salim Ramji has expressed his opposition to launching a new Exchange-Traded Fund (ETF) at this time.
As a crypto investor, I can’t predict with certainty if Vanguard will list Bitcoin ETFs on their brokerage platform anytime soon.
Notable is the background of Ramji, having previously worked at BlackRock where he contributed to the launch of their successful Bitcoin Exchange-Traded Fund (ETF).
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2024-05-16 11:08