Yesterday, May 15 was the deadline for investment firms that manage more than $100 million in Bitcoin Exchange Traded Funds (ETFs) to disclose their holdings.
Recent data shows that this newly launched Bitcoin ETF product is attracting significant interest from institutional players. This is an important development in the crypto industry, indicating a growing interest from large investors in this digital asset.
1,500 Companies Own Bitcoin ETF Products
According to combined data from Fintel, more than 1,500 investment firms disclosed total holdings of around $10.6 billion (IDR 157 trillion) in this ETF. Of the ten spot Bitcoin ETFs, Grayscale Bitcoin Trust (GBTC), BlackRock's iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), and ARK 21Shares Bitcoin ETF (ARKB) are the top choices for professional investors.
The giant hedge fund manager, Millennium Management, is leading the way with a $1.97 billion share ownership of a Bitcoin ETF, according to the latest 13F filing with the Securities and Exchange Commission (SEC).
Millennium Management revealed their portfolio investments include $844 million (IDR 12.5 trillion) in iShares Bitcoin Trust (IBIT) shares, more than $800 million (IDR 11.9 trillion) in Fidelity Wise Origin Bitcoin Fund (FBTC), around $202 million (IDR 3 trillion) in Grayscale Bitcoin Trust (GBTC), and nearly $45 million (IDR 667 billion) each in ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF Trust (BITB).
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Millennium Management Has $2 Billion in Bitcoin ETFs
According to Eric Balchunas, an ETF analyst at Bloomberg, Millennium Management has about $2 billion in four Bitcoin ETFs. This only covers 3% of Millennium's total assets under management of $64 billion (Rp 948 trillion). However, it shows how important institutional investment is in increasing market confidence in Bitcoin and its derivative products.
In addition to Millennium Management, other largest Bitcoin ETF holders in the first quarter of this year were Susquehanna International Group with $1.1 billion (Rp 16.3 trillion), Bracebridge Capital with $404 million (Rp 5.98 trillion), Boothbay Fund Management with $303 million (Rp 4.49 trillion), and Morgan Stanley with $251 million (Rp 3.72 trillion).
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A New Record Bitcoin ETF
According to Matt Hougan, Chief Investment Officer at Bitwise, the trend of investing in Bitcoin ETFs is increasing. The current level of institutional ownership is unprecedented for a new ETF. Typically, most new ETFs see only minimal participation from large investors in the early months of their release.
By comparison, the launch of a gold ETF in late 2004 was considered very successful, grossing more than $1 billion in its first five days. However, even as of its first 13F filing, only 95% of professional companies held positions in the gold ETF. Meanwhile, Bitcoin ETFs are experiencing a historical surge in terms of the number of institutional investors involved.
Professional Investors Hold 20% Bitcoin ETF
Although professional investors currently hold about 20% of total Bitcoin ETF assets, retail investors still dominate this landscape. However, Hougan noted that this initial institutional allocation could be the start of further increases.
"The allocations we saw in this latest 13F filing are just the beginning. Hightower Advisors may have allocated $68 million to a Bitcoin ETF today, for example, which is nice, but that's only 0.05% of their assets. If they follow the pattern outlined above, that allocation will increase over time. And for context, the allocation of 1% of their portfolio to Bitcoin will reach $1.2 billion – all from one company," Hougan said.
"Kalikan itu dengan jumlah investor profesional yang terus bertambah di ruang ini, dan Anda bisa mulai melihat apa yang menjadi alasan antusiasme saya," tambahnya.
Kesimpulan
With increasing interest from institutional investors, the Bitcoin ETF market is expected to continue to expand. The presence of large funds such as Millennium Management and Susquehanna International Group shows that there is a strong belief in Bitcoin's long-term potential as an investment asset.
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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
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Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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