Millennium Management, one of the top hedge funds, now has more than $2 billion worth of Bitcoin ETFs, according to Eric Balchunas, Bloomberg’s chief ETF analyst.
It has acquired shares from BlackRock’s IBIT, Fidelity’s FBTC, Grayscale’s GBTC, and other products.
The hedge fund, which was founded by American billionaire Israel Englander, is now at the top of the list of ETF holders.
Firms were supposed to submit 13F forms ahead of the May 15 deadline. These forms allowed industry observers to see the current rate of Bitcoin ETF adoption.
According to Balchunas, it is “impressive” that many different institution types are represented among the initial batch of ETF holders.
As reported by U.Today, the State of Wisconsin Investment Board (SWIB), which manages state pensions, recently revealed that it had scooped up nearly $100 million worth of Bitcoin.
Pine Ridge Advisers, Edmond de Rothschild (Suisse), JPMorgan, Well Fargo, and Susquehanna International Group are also among Bitcoin ETF holders.
Overall, the list of advisors consists mainly of hedge funds, but there are also some hedge funds. However, there are no university endowments yet, according to Balchunas.
Vanguard remains on the sidelines
While Bitcoin ETFs are enjoying surging popularity, Vanguard will seemingly remain on the sidelines. the
Meanwhile, incoming Vanguard CEO Salim Ramji has already rejected the possibility of launching an ETF.
However, it is now clear whether Vanguard will allow Bitcoin ETFs to appear on its brokerage platform.
It is worth noting that Ramji is a former BlackRock exec who took part in the rollout of the asset manager’s hit Bitcoin ETF.