According to their 13F filings for the first quarter, Millennium Management and Schonfeld Strategic Advisors have disclosed some of the largest spot Bitcoin ETF investments among traditional financial firms to date.
Millennium invested a total of $1.9 billion in spot Bitcoin ETFs, with specific investments in BlackRock’s IBIT, Fidelity’s FBTC, Grayscale’s GBTC, Ark’s ARKB, and Bitwise’s BITB. Schonfeld Strategic Advisors disclosed a $479 million investment in IBIT and FBTC.
Fintel data shows that these two funds hold the largest IBIT and FBTC investments, with Millennium leading in each category and Schonfeld ranking second. The disclosure marks a significant entry into Bitcoin ETFs by major hedge fund managers.
As of the end of 2023, Millennium had $69 billion in assets under management, while Schonfeld had $13 billion in AUM. The filings were made just before the May 15 deadline for 13F filings, with other firms like Aristeia Capital, Boothbay Fund Management, and Pine Ridge also revealing large investments in IBIT and other funds.
Morgan Stanley disclosed an investment in GBTC, joining other Global Systemically Important Banks (G-SIBs) with spot Bitcoin ETF holdings. Bitwise CIO Matt Hougan estimated that over 700 professional companies would invest nearly $5 billion by the deadline, with retail investment also playing a significant role in spot Bitcoin ETF assets.
Overall, the 10 available spot Bitcoin ETFs have combined assets under management of $53 billion and cumulative inflows of $12 billion.
