More big names have revealed allocations into the spot bitcoin exchange-traded funds.

Wednesday marked the deadline for institutional investors to file their quarterly 13F report with the U.S. Securities and Exchange Commission, revealing positions held as of March 31, 2024.

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After Tuesday’s surprising disclosure of a $161 million allocation from the State of WIsconsin, more investment whales turned out to have been part of the unprecedented success of the ETFs.

Hedge fund Millennium Management, with more than $64 billion in assets under management, held roughly $2 billion across a number of the spot bitcoin ETFs, according to its filing.

The hedge fund, which is led by billionaire Izzy Englander, held its biggest allocation in BlackRock’s iShares Bitcoin Trust (IBIT), roughly $844 million. It also owned more than $800 million of the Fidelity Wise Origin Bitcoin Fund (FBTC) and $202 million of Grayscale’s Bitcoin Trust (GBTC), as well as stakes in ARK/21's ARKB and Bitwise's BITW.

Another major hedge fund, Paul Singer's Elliott Capital disclosed a stake of nearly $12 million in BlackRock's IBIT as of the end of the quarter.

Finally, Apollo Management Holdings disclosed a quarter-end $53.2 million stake in ARK/21's ARKB.

Other notable names who revealed allocating assets into the spot bitcoin funds on Wednesday are Aristeia Capital and Hudson Bay Capital.

Edited by Stephen Alpher.