Millennium Management, a major hedge fund, has disclosed its substantial holdings in cryptocurrency ETFs in its latest SEC filing. The fund’s Bitcoin ETF investments total $2.6 billion, with its largest position being BlackRock’s IBIT, valued at over $844 million.
Additionally, the firm holds significant stakes in Fidelity’s Bitcoin ETF, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, and Grayscale Bitcoin Trust.
The filing underscores a growing institutional interest in cryptocurrency investments. Alongside Millennium Management, notable institutions like Abu Dhabi’s sovereign wealth fund and Goldman Sachs have also increased their crypto holdings. In particular, the sovereign wealth fund acquired $436.9 million in BlackRock’s Bitcoin ETF, while Goldman Sachs raised its holdings to $1.5 billion.
Millennium’s investment represents a small percentage—around 3%—of its total assets, indicating a cautious yet noteworthy shift towards digital assets.
By May 2024, Millennium’s total Bitcoin ETF investments had neared $2 billion across multiple funds. This aligns with a broader trend where institutional players continue to seek exposure to crypto assets despite market volatility.