Breaking: Millennium Management $2B Stake Crown It Largest IBIT, FBTC ETF Holder

7Ary...USep

16 May 2024

Millennium Management's SEC filing reveals $2B in Bitcoin ETFs, with major stakes in iShares Bitcoin Trust ($844M) and Fidelity Wise Origin Bitcoin Fund ($807M).

HIGHLIGHTS

Millennium Management invests $2B in Bitcoin ETFs, holds 3% of its $64B fund.
IBIT and FBTC are top Bitcoin ETF holdings, with $844M and $806M invested.
Bitcoin ETFs attract major players like JPMorgan and State of Wisconsin Board

Millennium Management has disclosed holdings that make it the largest holder of Bitcoin ETFs, notably the iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC).
This participation is evidenced by the recent SEC filing that shows Millennium Management’s stakes now cover almost $2 billion, which is about 3% of its fund worth $64 billion.

Millennium’s Bitcoin ETF Holdings

Millennium Management’s 13F-HR SEC filing gives a comprehensive overview of its investments in the numerous major Bitcoin ETFs. The company has set aside $844,181,820 for BlackRock’s iShares Bitcoin Trust, which is now the biggest single holding.
After that comes the Fidelity Wise Origin Bitcoin Fund, which has received $806,640,303 from Millennium.
The other significant investments are $202,029,915 in the Grayscale Bitcoin Trust and smaller but still important amounts of money in the ARK 21Shares Bitcoin ETF and Bitwise Bitcoin ETF, which are equal to $45,001,320 and $44,737805, respectively.

This strategic placement of the investments in different ETFs not only spreads out the risks but also shows Millennium’s bullish attitude towards Bitcoin as an asset class.

$HPLT public sale LIVE

Stake $HPLT and earn USDT everyday.

CLICK NOW

The company’s choice to intensify the participation in cryptocurrency shows a great faith in the fact that digital currencies will still be incorporated into the mainstream financial system.

Growing Institutional Interest in Bitcoin ETFs

Institutional interest in Bitcoin ETFs is increasing, as shown by recent SEC filings from other financial institutions. Boothbay Fund Management and the State of Wisconsin Investment Board are among other big players that have invested heavily in Bitcoin ETFs, which proves that institutional interest is on the rise.
As reported by Coingape, Boothbay Fund Management publicized its $377 million investment in different Bitcoin ETFs, and the Wisconsin board disclosed its nearly $162 million invested in BlackRock’s IBIT and Grayscale’s GBTC.
Concurrently, firms like Hightower Advisors, SouthState Bank, and even big companies like JPMorgan Chase have entered this market, which shows that they are confident in Bitcoin ETFs as investment vehicles.

Bitcoin’s Price Trend

The growing acceptance of Bitcoin ETFs comes at a time when Bitcoin itself has seen considerable price movements. Recently, Bitcoin’s price surged to $66,000, marking a 7% increase in the last 24 hours.
This price movement is in direct relation to the latest U.S. Consumer Price Index (CPI) data, which has shown a decrease in core inflation that might influence investor sentiment toward digital assets as a hedge against economic instability.
Read Also: Did Morgan Stanley’s $243M Bet On GBTC Fuel Bitcoin Rebound?

Did Morgan Stanley’s $243M Bet On GBTC Fuel Bitcoin Rebound?

Morgan Stanley has just filed its own Form 13F, disclosing that it holds as much as $243 million on Grayscale's GBTC

HIGHLIGHTS

Morgan Stanley is the latest to disclose its Bitcoin ETF holdings
The banking giant backs Grayscale's GBTC with over $240 million
The move, alongside US inflation data has sparked a market-wide recovery

Morgan Stanley, the 6th largest banking firm in the United States has joined the spot Bitcoin ETF bandwagon. In its recently published Form 13-F lodged with the Securities and Exchange Commission (SEC), the bank revealed that it has over $243 million in the new asset class.

Morgan Stanley and Bitcoin Boost

The banking giant holds 4,269,361 shares of Grayscale Bitcoin Trust (GBTC).

🚨 JUST IN: MORGAN STANLEY reveals #Bitcoin ETF exposure in SEC filings
The 6th biggest bank in the country! 🇺🇸 pic.twitter.com/tkQvlXDAXK
— Julian Fahrer (@Julian__Fahrer) May 15, 2024

While it remains unclear when the bank took the position in GBTC, the bank is arguably one of the largest holders of the firm’s Bitcoin ETF. The revelation of Morgan Stanley’s stake in GBTC comes at a time when the US inflation data (CPI) was published.
This sentiment might be playing a role in rebooting the price of Bitcoin at the moment. The digital currency is up by 6.97% in the past 24 hours to $65,844.70. With the rebooting in market sentiment, the token has soared from a 24-hour low of $61,330.41 to a high of $66,446.23.
The market sentiment has a split facet as the dovish CPI data shows the Federal Reserve might soon be cutting interest rates. A cut in interest rate is attractive for digital currencies like Bitcoin with provably high yield over time. The spot Bitcoin ETF accumulation trends as recorded over the past week also complements Morgan Stanley’s disclosures.
Besides Morgan Stanley, the US third-largest bank Wells Fargo also boasts of exposure to BlackRock’s spot Bitcoin ETF. With the disclosures thus far, Susquehanna International Group (SIG) is among the highest investors in Bitcoin ETF. Per its disclosures, the trading firm has over $1.3 billion spread across the top 10 spot Bitcoin ETF products.

Altcoins Joins The Trend

The Bitcoin rebirth has also stirred the recovery of many altcoins in the market. Ethereum (ETH) for instance has jumped by 6.52% to $3,025, crunching the weekly losses from double-digit loss to 4.42%.
Binance Coin (BNB) is up 3.5% to $586.9, Solana (SOL) has soared by 9.46% to $156.45 and XRP inked a 2.89% to $0.5187. Shiba Inu also joined the trend with its 7.88% surge to $0.00002489. The dog-themed memecoin is particularly in the spotlight after launching ShibaSwap on its Ethereum L2, Shibarium.
The ShibaSwap migration is significant as it is poised to drive transactions on the network to enhance value for SHIB.
Read More: Coinbase Has Unusually Big Plans For $600B Australian Pension Funds