In the past week, more than 600 companies have disclosed substantial investments in spot Bitcoin exchange-traded funds (ETFs) in their 13F filings with the United States Securities and Exchange Commission (SEC).
According to the filing data, professional investment firms have reported owning $3.5 billion worth of Bitcoin ETFs.
Among these firms are prominent names such as Morgan Stanley, JPMorgan, Wells Fargo, UBS, BNP Paribas, Royal Bank of Canada, and hedge funds like Millennium Management and Schonfeld Strategic Advisors.
Millennium Management stands as the largest investor in BTC ETFs, with a total investment of $1.9 billion. Specifically, they have invested $844.2 million in BlackRock’s iShares Bitcoin Trust (IBIT), $806.7 million in Fidelity’s Wise Origin Bitcoin Fund (FBTC), $202 million in the Grayscale Bitcoin Trust (GBTC), $45.0 million in the ARK 21Shares Bitcoin ETF (ARKB), and $44.7 million in the Bitwise Bitcoin ETF (BITB).
Schonfeld Strategic Advisors, a hedge fund managing $13 billion in assets, follows as the second-largest investor in spot BTC ETFs. They have allocated $248 million to BlackRock’s ETF and $231.8 million to Fidelity’s fund, totaling $479 million.
Boothbay Fund Management, a hedge fund manager based in New York, has disclosed a $377 million exposure to spot Bitcoin ETFs, investing $149.8 million in IBIT, $105.5 million in FBTC, $69.5 million in GBTC, and $52.3 million in BITB.
Pine Ridge Advisers, an advisory firm based in New York, has announced a $205.8 million investment in spot Bitcoin ETFs. Their investment includes $83.2 million in IBIT, $93.4 million in FBTC, and $29.3 million in BITB.
Morgan Stanley has revealed a $269.9 million investment in GBTC, positioning itself as one of the largest GBTC holders. Aristeia Capital, an alternative asset manager, has disclosed a $163.4 million investment in IBIT.
Graham Capital Management, an investment firm based in Connecticut, has declared a $98.8 million investment in IBIT and $3.8 million in FBTC. CRCM has disclosed a $96.6 million investment in IBIT. Fortress Investment Group, an investment firm based in New York, has disclosed a $53.6 million investment in IBIT.
Spot Bitcoin ETFs were launched in the second week of January and experienced high demand in the initial three months. However, in recent weeks, there has been a significant decline in inflows. Despite this recent slump, hundreds of financial institutions have disclosed investments worth billions of dollars in spot BTC ETFs.