Millennium Management's Massive Bet on Bitcoin ETFs Shows Confidence in Digital Assets

Thursday, 16 May 2024, 05:40

Millennium Management's disclosed $2 billion investment in Bitcoin ETFs, along with other prominent asset managers' increasing holdings, reflects a surge in institutional confidence in digital assets. This growing trend of institutional investment in Bitcoin ETFs may pave the way for broader adoption and long-term potential in the crypto market.
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Millennium Management's Massive Bet on Bitcoin ETFs Shows Confidence in Digital Assets

Millennium Management's $2 Billion Bet on Bitcoin ETFs Signals Institutional Confidence

A recent SEC filing reveals Millennium Management's significant holdings in various US-traded spot Bitcoin ETFs, totaling $2 billion across major funds like IBIT, FBTC, and GBTC.

Institutional Bitcoin ETF Investments Surge

Other asset managers, including Pine Ridge and Schonfeld Strategic Advisors, are also ramping up their Bitcoin ETF holdings, indicating a broader trend of institutional interest in digital assets.

Matt Hougan, Chief Investment Officer at Bitwise, remarked on the historic success of Bitcoin ETFs and the potential for increased institutional allocations, citing a growing number of professional investors entering the market.

Millennium Management's substantial investment underscores the mainstream integration of cryptocurrencies, signaling long-term confidence in digital assets' future growth.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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