Millennium Management and Schoenfeld Strategic Advisors disclosed some of the largest spot Bitcoin ETF investments ever by a traditional financial company, according to a first-quarter 13F filing.
Millennium has invested a total of $1.9 billion in Spot Bitcoin ETFs, including $844.2 million in BlackRock's IBIT, $806.7 million in Fidelity's FBTC, and $202 million in Grayscale's GBTC. $45 million to Ark's ARKB and $44.7 million to Bitwise's BITB.
Schoenfeld Strategic Advisors has announced a total investment of $479 million, including $248 million in IBIT and $231.8 million in FBTC.
Largest IBIT holder
According to Fintel data, these two funds hold the largest investments in IBIT and FBTC, with Millennium in first place and Schoenfeld in second place in each category. Millennium also ranks as the 10th largest holder among other spot Bitcoin ETF investments.
In addition to the large investment scale of each company, this disclosure also means that a major hedge fund manager has entered Bitcoin ETFs.
Millennium had $69 billion in assets under management (AUM) at the end of 2023, while Schoenfeld had $13 billion in assets under management.
Submission deadline is approaching
The companies' disclosures were made at the last minute, as May 15 is the deadline for quarterly 13F filings. A number of other companies, including Aristeia Capital, Boothbay Fund Management and Pine Ridge, disclosed significant investments in IBIT and other funds earlier today.
Meanwhile, Morgan Stanley has revealed its investment in GBTC, making it one of several Global Systemically Important Banks (G-SIBs) to hold a Spot Bitcoin ETF.
A few days earlier, Bitwise CIO Matt Hogan predicted that more than 700 professional companies would invest a total of nearly $5 billion by the May 15 deadline. However, he emphasized that individual investments account for the majority of Spot Bitcoin ETF assets.
All 10 available Spot Bitcoin ETFs have combined assets under management of $53 billion and cumulative inflows of $5.12 billion.
