Millennium's $2.6B Bitcoin ETF Bet
Millennium Management's Significant Crypto Investments
Millennium Management, a prominent hedge fund, recently disclosed $2.6 billion in Bitcoin ETF holdings and $182.1 million in Ethereum ETFs in its latest 13F filing with the SEC. This significant investment underscores the growing institutional adoption of cryptocurrencies.
Bitcoin ETF Holdings Breakdown
Millennium's Bitcoin ETF portfolio is diversified across several funds. BlackRock's IBIT constitutes the largest position, exceeding $844 million. Fidelity's Bitcoin ETF follows closely, with holdings exceeding $806 million.
- BlackRock's IBIT: >$844 million
- Fidelity's Bitcoin ETF: >$806 million
- ARK 21Shares Bitcoin ETF
- Bitwise Bitcoin ETF
- Grayscale Bitcoin Trust
This represents a substantial increase from their nearly $2 billion investment in Bitcoin ETFs across five major funds reported in May 2024. Even then, this represented only 3% of their total assets.
Institutional Crypto Investment Trend
Millennium's substantial holdings reflect a broader trend of increasing institutional interest in crypto. Other notable examples include:
- Abu Dhabi's sovereign wealth fund: Purchased $436.9 million of BlackRock's spot Bitcoin ETF during the same quarter.
- Goldman Sachs: Increased its Bitcoin ETF holdings to $1.5 billion.
This influx of institutional capital highlights the growing maturity and acceptance of cryptocurrencies within traditional finance.
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