During the initial quarter of the financial year, hedge fund Millennium Management demonstrated robust support for bitcoin exchange-traded funds (ETFs), with investments estimated at $2 billion. The fund, led by Wall Street Israel Englander, is spread across the top five Bitcoin ETFs.
From the latest 13F filings, Millennium Management has invested around $1.94 billion this year. However, AIG allocated only 3% of its $64 billion total AUM to this risk.
The investment of Millennium into iShares Bitcoin Trust surpasses the $844 million allocation, being Blackrock’s largest allocation. Substantial funding was put into Fidelity Wise Origin Bitcoin Fund, Grayscale Bitcoin Trust, ARK 21Shares Bitcoin ETF, and Bitwise Bitcoin ETF Trust.
Regardless of recent volume fluctuations in cryptocurrency trading, a reviving capital inflow trend has been observed in the cryptocurrency investment landscape. Institutional investors are heavily invested in investment products, the latest being bitcoin ETF, indicating that there is renewed confidence regarding the crypto market’s recovery. Notable investors in these funds include Apollo Management and Elliott Capital.
