In a new disclosure, investment management firm Millennium Management revealed holdings of nearly $2 billion in spot Bitcoin ETFs. This revelation was made as part of an SEC 13F-HR Institutional Investment Report filed today and highlights the growing interest and investments in Bitcoin ETFs from major institutional players.
JUST IN: 🇺🇸Millennium Management reveals it holds $2 billion in cash #Bitcoin ETF in New SEC Filing 👀 pic.twitter.com/hHzlWbHr9c
– Bitcoin Magazine (@BitcoinMagazine) May 15, 2024
The company reported owning a combined total of $1,942,591,163:
– $844,181,820 from BlackRock's iShares Bitcoin Trust
– $45,001,320 ARK 21Shares Bitcoin ETF
– $44,737,805 Bitwise Bitcoin ETF
– $202,029,915 from Grayscale Bitcoin Trust
– $806,640,303 from the Fidelity Wise Origin Bitcoin Fund
Millennium Management's substantial investment comes just one day after the State of Wisconsin Investment Board (SWIB) disclosed its holdings of nearly $100 million in BlackRock's spot Bitcoin ETF (IBIT) and $62 million in Grayscale's GBTC. This wave of institutional interest highlights a growing trend among major financial entities to include Bitcoin ETFs in their portfolios.
The recent surge in 13F filings has seen various institutions announce their Bitcoin ETF holdings. This includes not only investment companies like Millennium and SWIB, but also traditional financial giants such as JPMorgan Chase. JPMorgan, the largest U.S. bank, recently disclosed its own holdings in spot Bitcoin ETFs, highlighting its role as a market maker for these investment vehicles.
This trend signifies broader acceptance and integration of Bitcoin into traditional financial markets. Bitcoin ETFs, which offer institutions a regulated and accessible way to gain exposure to Bitcoin without directly owning the asset, have gained traction since their launch in the United States earlier this year.
Millennium Management's nearly $2 billion investment in spot Bitcoin ETFs marks one of the largest institutional commitments to date. The ripple effect of such revelations is likely to be considerable.