New data from Bitcoin brokerage firm River reveals that the largest hedge funds in the United States are working together to accumulate billions of dollars worth of Bitcoin exchange-traded funds (ETFs) stocks.
River said in a new thread on social media platform .
“12 of the 25 largest hedge funds in the U.S. have combined Bitcoin ETF exposure of more than $2.6 billion. 11 of the 25 largest registered investment advisors (RIAs) also have exposure. have.
Bitcoin, on the other hand, is a mere $1 trillion asset class. ”
River said that as of March 31, major hedge funds holding Bitcoin ETFs include Millennium Management, Citadel Investment Group, Mariner Investment Group, Renaissance Tech, and Point72 Asset Management. It is said to be included.
The brokerage further notes that hundreds of RIAs have collectively invested billions of dollars in Bitcoin ETFs.
“RIAs have relatively small allocations. However, there are 405 advisors with $1 billion or more in assets who collectively allocate $2.5 billion to Bitcoin ETFs.”
At the time of writing, Bitcoin is trading at $67,066, with a slight decline over the past 24 hours.
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