KEY POINTS
- Most of Millennium's spot Bitcoin ETF investments were on BlackRock's IBIT and Fidelity's FBTC
- The investment manager's disclosure came just a day after Wisconsin's SWIB disclosed its nearly $100M IBIT stash
- Bloomberg analyst Eric Balchunas said Millennium now leads over 500 other spot BTC ETF holders in the ranks
Investment management firm Millennium Management on Wednesday revealed that it holds some $2 billion worth of spot Bitcoin exchange-traded funds (ETFs), as more institutions show increasing interest in the fast-rising Bitcoin subsector.
In a 13-F filing with the U.S. Securities and Exchange Commission (SEC), the New York-based hedge fund disclosed that it holds BTC ETFs from five issuers, including $44 million of Bitwise Bitcoin Fund (BITB) shares.
Millennium disclosed that it holds over $45 million of ARK 21 Shares' ARKB, and over $202 million of Grayscale's GBTC. On the top list of the company's Bitcoin ETF buys is BlackRock's IBIT, of which Millennium holds some $844 million worth of shares. Fidelity's FBTC isn't too far behind, as Millennium holds over $806 million of the said Bitcoin ETF.
The investment firm's revelation was made just a day after Wisconsin's Investment Board (SWIB) revealed in SEC filings that it has nearly $100 million worth of IBIT, marking a significant day for cryptocurrency enthusiasts who believe spot BTC ETFs will play a major role in revolutionizing the digital assets space.
Crypto users on X noted how SWIB's disclosure was very meaningful to the industry, given that there remain skeptics of digital assets but the growing number of traditional financial institutions seemingly embracing Bitcoin ETFs could signal an institutional transition to the virtual world of finance.
Bloomberg analyst Eric Balchunas has said the crypto industry should expect "more" financial institutions disclosing their spot BTC ETF holdings, since institutional investors usually move like a "herd."
Bitcoin ETFs have been popular among retail investors and individual crypto enthusiasts since they were approved by the SEC in January, in a historic move that triggered an initially silent wave of interest among institutional investors. However, the number of institutions revealing their Bitcoin ETF treasuries in recent weeks has only increased, seemingly reinvigorating a community that has been reeling from BTC prices being at the lows since the April 20 halving.
🚨 BIG BREAKING 🚨
— Ash Crypto (@Ashcryptoreal) May 15, 2024
MILLENNIUM MANAGEMENT A
MASSIVE HEDGE FUND HAS JUST
BOUGHT $2 BILLION DOLLARS
WORTH OF #BITCOIN ETF.
$2 BILLION IS A BIG INVESTMENT.
DON’T IGNORE THE SIGNS.
$200K BTC IS EASILY POSSIBLE.
THIS IS GIGA BULLSIH 🔥
Prominent crypto trader Ash Crypto commented on the development, telling his more than one million followers to not ignore "the signs," further reiterating that $2 billion is a significant investment from an investment management company.
Millennium is king of the bitcoin ETF holders w/ about $2b across four ETFs. This is out of over 500 holders (about 200x the avg for new ETF). Majority are inv advisors (60%) but a big dose of HFs (25%). Never can be totally sure what HFs up to but they were def big buyers. pic.twitter.com/iVtVXjhId0
— Eric Balchunas (@EricBalchunas) May 15, 2024
Balchunas also took to X (formerly Twitter) to crown Millennium as the "king of Bitcoin ETF holders," out of more than 500 holders. One user asked the ETF expert why some holders are spreading their investments across various issuers. "Case by case but spread out the trading to reduce impact, being noticed or maybe have limits," Balchunas responded.
