According to U.Today, Millennium Management, a leading hedge fund, now holds over $2 billion in Bitcoin Exchange-Traded Funds (ETFs). The fund has acquired shares from various products including BlackRock's IBIT, Fidelity's FBTC, and Grayscale's GBTC. The hedge fund, established by American billionaire Israel Englander, is currently leading the list of ETF holders.
Companies were required to submit 13F forms before the May 15 deadline, allowing industry observers to gauge the current rate of Bitcoin ETF adoption. Eric Balchunas, Bloomberg's chief ETF analyst, noted the diversity of institutions among the initial batch of ETF holders, calling it 'impressive'.
In addition to Millennium Management, the State of Wisconsin Investment Board (SWIB), which manages state pensions, recently disclosed that it had acquired nearly $100 million worth of Bitcoin. Other Bitcoin ETF holders include Pine Ridge Advisers, Edmond de Rothschild (Suisse), JPMorgan, Well Fargo, and Susquehanna International Group. The list of advisors is primarily composed of hedge funds.
However, university endowments have not yet invested in Bitcoin ETFs, according to Balchunas. Despite the growing popularity of Bitcoin ETFs, Vanguard, a major investment management company, appears to remain on the sidelines. Incoming Vanguard CEO Salim Ramji, a former BlackRock executive, has already dismissed the idea of launching an ETF. It remains unclear whether Vanguard will permit Bitcoin ETFs to be listed on its brokerage platform.
