Millennium Management, holding 27,263 BTC worth $1.69 billion, has allocated about 2.5% of its $67.7 billion in total assets under management to Bitcoin.
Over half of the top American hedge funds have disclosed exposure to newly launched spot Bitcoin (BTC) exchange-traded funds (ETFs) in a year, as BTC/USD has significantly outperformed major stocks and indexes.
Data from investment firm River reveals that 13 out of the top 25 United States hedge funds had owned Bitcoin ETFs by the end of Q1 2024. Notable among these is Millennium Management, which had 27,263 BTC worth $1.69 billion, making up about 2.5% of its total assets under management worth $67.7 billion.
Other significant players include Schonfeld Strategic Advisors, with 6,734 BTC, and Point72 Asset Management, with 1,089 BTC. In contrast, some top hedge funds, such as Bridgewater Associates, AQR Capital Management and Balyasny Asset Management, have yet to invest in Bitcoin ETFs.