By the end of the first quarter of 2024, 13 of the 25 largest US hedge funds owned bitcoin-based products. Such data was brought to River.
According to the study, 534 organizations — from hedge funds to pension and insurance companies - with assets over $1 billion invested part of their funds in BTC-ETFs.
In particular, 11 of the 25 largest registered investment consultants and hundreds of smaller companies placed funds in the instrument.
Data: River.Among the hedge funds, Millennium Management stands out, which has acquired 27,263 BTC ($1.69 billion). The value is equivalent to 2.5% of the organization's total AUM of $67.7 billion.
Data: River.Other significant players include Schonfeld Strategic Advisors (6734 BTC) and Point72 Asset Management (1089 BTC).
Some leading hedge funds like Bridgewater Associates, AQR Capital Management and Balyasny Asset Management have not invested in the instruments yet.
"With the advent of digital gold—based ETFs, institutions have run out of reasons to give up "healthy" money," the experts concluded.
Earlier, the Investment Council of the State of Wisconsin announced investments in bitcoin products worth $ 163 million. At the end of 2023, he had $156 billion at his disposal.
Recall that in May, the head of the digital assets department at BlackRock, Robert Mitchnik, announced expectations of a new wave of inflows of funds into spot BTC-ETFs due to the participation of institutions.
In April, Bernstein analysts presented a similar forecast.
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