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Millennium Management Bets Big on Bitcoin ETFs as Institutional Investments Surge

2 mins mins
Millennium Management Bets Big on Bitcoin ETFs as Institutional Investments Surge

Key Points:

  • Millennium Management disclosed $2.6 billion in Bitcoin ETFs and $182.1 million in Ethereum ETFs, with BlackRock’s IBIT being its largest position.
  • Goldman Sachs increased its Bitcoin ETF holdings by 88% to $1.5 billion, while Barclays and Abu Dhabi’s sovereign wealth fund also made significant investments.

Millennium Management has disclosed substantial cryptocurrency holdings in its latest 13F filing with the U.S. Securities and Exchange Commission (SEC), with $2.6 billion in Bitcoin ETFs and $182.1 million in Ethereum ETFs.

Read more: Millennium Management Bitcoin ETF Accounts For 3% Of Its Portfolio 

Millennium Management Expands Crypto ETF Holdings

The hedge fund’s Bitcoin ETF investments span multiple funds, with BlackRock’s IBIT accounting for the largest share at over $844 million, followed by Fidelity’s fund at approximately $806 million. Additional holdings include the ARK 21Shares Bitcoin ETF, the Bitwise Bitcoin ETF, and the Grayscale Bitcoin Trust.

Millennium Management’s filing also reveals a growing trend of institutional engagement with cryptocurrency ETFs. Goldman Sachs significantly increased its Bitcoin ETF exposure, boosting holdings by 88% quarter-over-quarter to 24.07 million shares.

Millennium Management's IBIT shares
Millennium Management’s IBIT shares are disclosed in a 13F filing with the SEC.

The investment bank’s total Bitcoin ETF holdings now stand at $1.5 billion, making it the third-largest holder of IBIT, trailing Brevan Howard Capital and Millennium Management. Additionally, Barclays reported a new stake in IBIT, acquiring 2.47 million shares valued at $131 million.

Growing Adoption of Digital Assets Among Large Funds

Institutional interest in Bitcoin ETFs extends beyond hedge funds and banks. Abu Dhabi’s sovereign wealth fund made its first purchase of BlackRock’s spot Bitcoin ETF, acquiring $436.9 million worth of shares.

In May 2024, Millennium Management’s Bitcoin ETF investments reached nearly $2 billion across five funds, representing just 3% of its total assets.

Not only Millennium but the Wisconsin State Pension Fund has more than doubled its stake in IBIT to 6.06 million shares, now valued at $321.5 million. However, the pension fund currently allocates all of its BTC investments to IBIT and no longer holds any GBTC shares.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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John Kojo Kumi

15 February 2025, 02:33:00 GMT +0000

John Kojo Kumi is a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem. With years of experience in crypto journalism and blockchain research, he provides in-depth coverage of decentralized finance (DeFi), NFTs, and Web3 innovations.

He holds a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi, bringing a multidisciplinary perspective to the evolving digital asset space. As a Crypto News Writer, he tracks and reports on industry trends, while his role as a Registrar at the Commission on Human Rights and Administrative Justice reflects his commitment to governance and transparency.

His expertise spans content strategy, SEO optimization, and technical research, enabling him to craft insightful, data-driven analyses. Passionate about blockchain’s transformative potential, he strives to equip readers with the knowledge to navigate the complexities of digital assets and decentralized technologies.

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