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Millennium Management Bets Big on Crypto: $2.8 Billion in Bitcoin and Ethereum ETFs
Generated by AI AgentCoin World
Friday, Feb 14, 2025 8:26 pm ET1min read
Hedge fund giant Millennium Management has revealed significant investments in cryptocurrency through its latest 13F filing with the SEC. The fund disclosed holdings of $2.6 billion in Bitcoin ETFs and $182.1 million in Ethereum ETFs.
Millennium's Bitcoin ETF portfolio is diversified across multiple funds. BlackRock's IBIT is the largest position, valued at over $844 million, followed by Fidelity's fund at just over $806 million. Other holdings include the ARK 21Shares Bitcoin ETF, the Bitwise Bitcoin ETF, and the Grayscale Bitcoin Trust.
The filing underscores a broader trend of institutional investment in cryptocurrencies. Abu Dhabi's sovereign wealth fund purchased $436.9 million of BlackRock's spot Bitcoin ETF in the quarter, while Goldman Sachs increased its Bitcoin ETF holdings to $1.5 billion.
These investments represent a growing recognition of cryptocurrencies as a viable asset class among institutional investors. As of May 2024, five major funds held cryptocurrencies, representing only 3% of their total assets.
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