Millennium Management Unveils It Invested $2 Billion in Spot Bitcoin ETFs
Hedge Fund Millennium Management has invested nearly $2 billion in Bitcoin ETFs as of the first financial quarter.
As of March 31, Millennium Management held $1.94 billion in shares of spot Bitcoin ETFs, distributed across five funds: ARK 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), Grayscale Bitcoin Trust (GBTC), iShares Bitcoin Trust (IBIT), and Fidelity Wise Origin Bitcoin ETF (FBTC).
However, the fair market value of these shares constituted just 3% of the hedge fund’s $64 billion in assets under management, according to its quarterly 13F filing with US securities regulators.
The fund, founded and led by Wall Street veteran Israel Englander, had approximately $844 million invested in BlackRock’s iShares Bitcoin Trust (IBIT) — its largest allocation to a spot Bitcoin ETF — as of the three-month period ending in March.
It also held over $800 million in the Fidelity Wise Origin Bitcoin Fund (FBTC), around $202 million in shares of Grayscale’s Bitcoin Trust (GBTC), and approximately $45 million in both the ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF Trust (BITB).
