Key Points
- Millennium Management holds nearly $2 billion in Bitcoin ETFs across five different funds.
- The investment represents just 3% of the hedge fund’s total assets under management.
Millennium Management, a hedge fund, has invested almost $2 billion in Bitcoin ETFs during the first financial quarter.
On March 31, the fund held $1.94 billion in Bitcoin ETF shares, distributed across five different funds. These include ARK 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), Grayscale Bitcoin Trust (GBTC), iShares Bitcoin Trust (IBIT), and Fidelity Wise Origin Bitcoin ETF (FBTC).
Investment Details
Despite the hefty investment, the market value of these shares only constitutes 3% of the hedge fund’s total assets under management, which is $64 billion. This information was disclosed in its quarterly 13F filing with U.S. securities regulators.
The fund, under the leadership of Wall Street veteran Israel Englander, had its largest Bitcoin ETF allocation in BlackRock’s iShares Bitcoin Trust (IBIT), with an investment of approximately $844 million.
Other Investments
Millennium Management also invested more than $800 million in the Fidelity Wise Origin Bitcoin Fund (FBTC), about $202 million in shares of Grayscale’s Bitcoin Trust (GBTC), and around $45 million in both ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF Trust (BITB).
Millennium Management is among multiple investment firms that have shown interest in Bitcoin ETFs, as institutional investors are increasingly attracted to these crypto-based funds. Apollo Management and Elliott Capital are also notable investors in these funds.
