- Increase in Number of Hedge Funds with Bitcoin ETFs
- Major Players in the Bitcoin ETF Market
- Impact on the Cryptocurrency Market
According to a Bloomberg report, the number of hedge funds holding Bitcoin ETFs has reached 1,950, with 701 new funds adding Bitcoin ETFs to their holdings. Key players in the market include Millennium Management, Capula Investment Management, and others.
Increase in Number of Hedge Funds with Bitcoin ETFs
A Bloomberg report states that the number of hedge funds holding Bitcoin ETFs has grown to 1,950, with 701 new funds adding Bitcoin ETFs this year. The SEC's approval for launching Bitcoin ETFs in January 2024 has fueled interest from institutional investors.
Major Players in the Bitcoin ETF Market
Among the major buyers of Bitcoin ETFs are Millennium Management, Capula Investment Management, Schonfeld Strategic Advisors, and Steven Cohen’s Point72 Asset Management. Despite reducing its positions in FBTC, IBIT, and GBTC, Millennium Management remains a leading player in the market.
Impact on the Cryptocurrency Market
The launch of Bitcoin ETFs and subsequent developments have significantly impacted the market, pushing Bitcoin's price to a new all-time high of $73K in March. Hedge funds and banks have started investing in ETFs, notwithstanding the high volatility of the cryptocurrency market.
Institutional interest in Bitcoin ETFs continues to grow despite the volatility of the cryptocurrency market. Major players are actively including these assets in their portfolios, indicating further development and strengthening of cryptocurrencies in financial markets.
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