Global investment management firm Millennium Management has announced the purchase of a Spot Bitcoin ETF, according to an SEC filing. Millennium Management on Wednesday revealed its holdings in a Bitcoin ETF, which accounted for 3% of the $64 billion fund as of the first quarter.
The latest SEC filing reveals that Millennium owns a Bitcoin ETF along with BlackRock, ARK21, Bitwise, Fidelity, and Grayscale. Millennium Management owns more than $844 million in ETFs owned by BlackRock, which is by far the leader. The total value of the Fidelity Bitcoin ETF is not far behind, with Millennium investing over $800 million in the asset. Several more companies and banks have announced investments in Spot Bitcoin ETFs in recent weeks and months.These include Hightower and JP Morgan Tracking.
Throughout 2024, spot Bitcoin ETFs have been a large part of the conversation within the financial sector. In fact, the first approval for the investment offer was issued in January. Since then, they have achieved great success and further increased their profile.
The news of Millennium Management's Bitcoin ETF holdings comes amid a bullish rally in BTC to $66,000, up 7% in 24 hours today. The asset has become increasingly popular among investment firms as a new asset for their clients, and that trend doesn't seem to be slowing down.
