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Hedge fund Ginat Millenium emerges as the king of Bitcoin ETF holders
Alex Dovbnja
There is already a diverse list of Bitcoin ETF holders
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Millennium Management, one of the top hedge funds, now has more than $2 billion value of Bitcoin ETFs, according to Eric Balchunas, chief ETF analyst at Bloomberg.
It acquired shares from BlackRock’s IBIT, Fidelity’s FBTC, Grayscale’s GBTC and other products.
The hedge fund, founded by American billionaire Israel Englander, is now at the top of the list of ETF holders.
Companies were supposed to file Forms 13F before the May 15 deadline. These forms allowed industry watchers to see the current adoption rate of Bitcoin ETFs.
According to Balchunas, it is “impressive” that many different types of institutions are represented among ETF holders.
AS reported by U.Todaythe State of Wisconsin Investment Board (SWIB), which manages state pensions, recently revealed that it had raised nearly $100 million in Bitcoin.
Pine Ridge Advisers, Edmond de Rothschild (Suisse), JPMorgan, Well Fargo and Susquehanna International Group are also among the holders of Bitcoin ETFs.
Overall the list of advisors is mostly made up of hedge funds, but there are also some hedge funds. However, according to Balchunas, there are no university endowments yet.
The Vanguard remains on the sidelines
While Bitcoin ETFs are enjoying growing popularity, Vanguard will seemingly remain on the sidelines. THE
Meanwhile, Vanguard’s new 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’s worth noting that Ramji is a former BlackRock executive who took part in the launch of the asset manager’s popular Bitcoin ETF.
About the author
Alex Dovbnja
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to the burgeoning industry, from price analysis to Blockchain disruption. Alex has authored more than 1,000 stories for U.Today, CryptoComes, and other fintech media. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets; he can be contacted at alex.dovbnya@u.today.