Millennium Management Bitcoin ETF Accounts For 3% Of Its Portfolio

Key Points:

• Millennium Management Bitcoin ETF investment currently reaches nearly $2 billion, signaling strong institutional interest.
• Major institutions like the State of Wisconsin Investment Board and JPMorgan Chase have disclosed significant Bitcoin ETF holdings.
• Numerous 13F filings reveal increasing investments in Bitcoin ETFs, highlighting their growing acceptance in traditional finance since January 2024.

Millennium Management, a global investment management firm, has revealed a substantial allocation into spot Bitcoin exchange-traded funds (ETFs), according to a recent SEC filing.

Millennium Management Bitcoin ETF Investment Reaches Nearly $2 Billion

The move underscores the growing interest in Bitcoin ETFs among major institutional players. The firm disclosed holdings amounting to 3% of its $64 billion fund, translating to nearly $2 billion in spot Bitcoin ETFs.

The SEC 13F-HR institutional investment manager holdings report, filed recently, detailed Millennium’s diversified Bitcoin ETF portfolio. Millennium Management Bitcoin ETF investment includes $844.2 million in BlackRock’s IBIT, $806.7 million in Fidelity’s FBTC, $202 million in Grayscale’s GBTC, $45 million in Ark’s ARKB, and $44.7 million in Bitwise’s BITB.

Millennium Management Bitcoin ETF investment comes amid a broader trend of institutional adoption of Bitcoin ETFs. Just a day earlier, the State of Wisconsin Investment Board (SWIB) disclosed its own Bitcoin ETF investments, comprising nearly $100 million in BlackRock’s IBIT and $62 million in Grayscale’s GBTC.

Surge in Bitcoin ETF Filings Reflects Growing Financial Sector Interest

The latest surge in 13F filings has revealed that numerous financial giants are integrating Bitcoin ETFs into their portfolios. JPMorgan Chase, the largest bank in the U.S., has also announced holdings in spot Bitcoin ETFs, reflecting its role as a market maker for these assets. Other notable firms, such as Morgan Stanley, Aristeia Capital, Boothbay Fund Management, and Bank of Montreal, have similarly disclosed significant investments in these funds.

Throughout 2024, Bitcoin ETFs have increasingly become a focal point within the financial sector, following their initial approvals in January. This wave of institutional interest highlights the growing acceptance and integration of Bitcoin as a key asset in traditional investment strategies. This trend indicates a robust and sustained institutional confidence in the future of Bitcoin as part of mainstream financial portfolios.