{"id":13548,"date":"2024-05-16T09:57:36","date_gmt":"2024-05-16T06:57:36","guid":{"rendered":"https:\/\/forklog.com\/en\/millennium-management-acquires-1-94-billion-in-spot-bitcoin-etfs\/"},"modified":"2024-05-16T09:57:36","modified_gmt":"2024-05-16T06:57:36","slug":"millennium-management-acquires-1-94-billion-in-spot-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/millennium-management-acquires-1-94-billion-in-spot-bitcoin-etfs\/","title":{"rendered":"Millennium Management Acquires $1.94 Billion in Spot Bitcoin ETFs"},"content":{"rendered":"<p>By the end of the first quarter of 2024, hedge fund Millennium Management held $1.94 billion in spot bitcoin ETFs. This amount represents <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1273087\/000127308724000071\/xslForm13F_X02\/MLP_13F_2024Q1.xml\">3% of its <span data-descr=\"assets under management\" class=\"old_tooltip\">AUM<\/span> ($64 billion)<\/a>.<\/p>\n<p>The firm allocated its investments as follows:<\/p>\n<ul class=\"wp-block-list\">\n<li>ARK 21Shares Bitcoin ETF (ARKB) \u2014 $45 million;<\/li>\n<li>Bitwise Bitcoin ETF (BITB) \u2014 $44.7 million;<\/li>\n<li>Grayscale Bitcoin Trust (GBTC) \u2014 $202 million;<\/li>\n<li>iShares Bitcoin Trust (IBIT) \u2014 $844.2 million;<\/li>\n<li>Fidelity Wise Origin Bitcoin ETF (FBTC) \u2014 $806.6 million.<\/li>\n<\/ul>\n<p>Analysts at QCP Capital mentioned the BTC-ETF purchases by hedge funds Millennium Management and Schonfeld (2% of AUM) in their daily review. <\/p>\n<p>This news, along with the inflation data released on May 15 in the US, has led to expectations of bitcoin&#8217;s price moving towards $74,000 after breaking out of its previous consolidation range.<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"wublockchainenglish\/12991\" data-width=\"100%\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;It seems the stars have aligned for this breakout: significant sovereign and institutional adoption, declining inflation, and upcoming US elections. Could this be the renewal of the bull market?&#8221;<\/em> the document states. <\/p>\n<\/blockquote>\n<p>Earlier, the Wisconsin State Investment Board reported investments in BTC-ETF amounting to $163 million. By the end of 2023, it managed <a href=\"https:\/\/www.swib.state.wi.us\/\">$156 billion<\/a>.<\/p>\n<p>In May, Robert Mitchnick, head of digital assets at BlackRock, expressed expectations of a new wave of inflows into spot bitcoin ETFs driven by institutional participation.<\/p>\n<p>In April, a similar forecast was <a href=\"https:\/\/u1f987.com\/en\/news\/bernstein-sees-bitcoin-etf-inflow-slowdown-as-temporary\">presented<\/a> by analysts at Bernstein.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By the end of the first quarter of 2024, hedge fund Millennium Management held $1.94 billion in spot bitcoin ETFs. This amount represents 3% of its AUM ($64 billion). The firm allocated its investments as follows: ARK 21Shares Bitcoin ETF (ARKB) \u2014 $45 million; Bitwise Bitcoin ETF (BITB) \u2014 $44.7 million; Grayscale Bitcoin Trust (GBTC) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13547,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1538,1146,1156,1326],"class_list":["post-13548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-purchase","tag-cryptocurrency-market-forecasts","tag-institutional-investors-and-whales","tag-qcp-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=13548"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13548\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/13547"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=13548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=13548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=13548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}