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Over 600 firms disclose billions in Bitcoin ETF holdings

By:
on May 16, 2024
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  • More than 600 institutions have filed 13Fs disclosing holdings in spot Bitcoin ETFs.
  • Bitwise CIO says more than 700 will have revealed holdings by SEC's filing deadline.
  • Millennium Management is the largest spot Bitcoin ETF holder with over $1.9 billion.

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Just how attractive the spot Bitcoin ETF market is today is getting clearer with the 13F filings at the US Securities and Exchange Commission (SEC).

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While big names such as Morgan Stanley, Susquehanna, Millennium Management and PNB Paribas have headlined the disclosures, it’s the sheer number of firms to reveal holdings that’s trending today.

Also trending is Bitcoin price surging past $66,000.

Spot Bitcoin ETFs and market demand

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In a recent post, Bitwise shared the firm’s chief investment officer Matt Hougan’s insights into the spike in the number of firms buying Bitcoin ETFs.

According to the Bitwise CIO, several professional firms now hold spot BTC ETFs. More than 563 of these had submitted 13F filings as of May 9, revealing over $3.5 billion worth of Bitcoin ETFs holdings.

Hougan’s commentary in a weekly memo suggested that more than 700 firms could have disclosed their investments in Bitcoin ETFs by the SEC’s filing deadline on May 15. The total assets under management across these investments could top $5 billion, the Bitwise CIO noted.

Millennium Management tops with $1.9 billion

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With more than 600 asset managers and investment companies filing 13Fs, attention has been on some of the most notable and significant outlays in the Bitcoin ETF space.

BlackRock’s $IBIT ETF, Fidelity’s $FBTC, Ark’s $ARKB and Grayscale’s $GBTC lead, attracting astounding amounts from some of the top companies.

Millennium Management currently counts as the largest investor in spot Bitcoin ETFs.

In its 13F filing, the alternative asset management firm with over $61.1 billion in AUM revealed a $1.9 billion investment across five BTC ETFs. The firm holds $844.2 million in BlackRock’s $IBIT, over $806 million in Fidelity’s $FBTC and $202 million in Grayscale’s $GBTC ETF

Millennium also invested $45.0 million in Ark’s $ARKB, and $44.7 million in Bitwise Asset Management’s $BITB.

Other top firms investing in spot BTC ETFs

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As well as Millennium Management, other top investors include Schonfeld Strategic Advisors that disclosed $479 million; Boothbay Fund Management with $377 million; Pine Ridge Advisers with $206 million and Morgan Stanley with $270 million.

Graham Capital Management disclosed it invested over $103 million – $98.8 million in $IBIT and $3.8 million in $FBTC. 

The State of Wisconsin Investment Board disclosed it invested over $160 million in BTC ETFs – nearly $100 million in BlackRock’s $IBIT and $64 million in Grayscale’s $GBTC.

Bitcoin price surged early Thursday amid a flip in sentiment. The upside was helped by investors’ reaction to news of US CPI coming softer-than-expected in April.

As this eased sell-off pressure for stocks and crypto, BTC price surged past $66,000.

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