Hedge Funds and ETFs Fuel Bitcoin's Institutional Growth Despite On-Chain Slump
Saturday, 18 May 2024, 12:37
Hedge Funds Aping Into Bitcoin
The institutional fervor surrounding Bitcoin (BTC) has surged to unprecedented heights, as evidenced by the recent 13F filings presented by major financial institutions to the United States Securities and Exchange Commission (SEC).
Insights:
- Hedge funds lead the charge by allocating 2.1% of their portfolios to BTC.
- Private equity firms and holding companies also follow suit with 1.5% and 1% allocations, respectively.
- Millennium Management holds 27,263 BTC.
- Bluecrest Capital Management allocates 8 BTC.
Despite declining on-chain activity, the growing popularity of Bitcoin ETFs continues to attract institutional investors, offsetting negative outflows and driving record-high purchases.
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.