Millennium Management, a prominent hedge fund, has amassed over $2 billion in Bitcoin ETFs, as per statements from Eric Balchunas, the chief ETF analyst at Bloomberg.

The fund has secured stakes in various ETFs from BlackRock's IBIT, Fidelity's FBTC, Grayscale's GBTC, as well as other related products.

Established by American billionaire Israel Englander, Millennium Management currently leads the pack in terms of ETF ownership.

Before the May 15 deadline, firms were required to file 13F forms. These documents provide industry experts with insights into the current state of Bitcoin ETF adoption.

Balchunas commended the diversity in institutional representation among the initial group of ETF holders.

Recent disclosures by the State of Wisconsin Investment Board (SWIB), which oversees state pensions, indicate an acquisition of nearly $100 million in Bitcoin.

Bitcoin ETF holdings also include Pine Ridge Advisers, Edmond de Rothschild (Suisse), JPMorgan, Wells Fargo, and Susquehanna International Group.

While hedge funds dominate the list of holders, there are few university endowments at present, according to Balchunas.

Vanguard's Stance on Bitcoin ETFs

Despite the rising popularity of Bitcoin ETFs, Vanguard seems hesitant to join in.

Incoming CEO Salim Ramji has voiced his opposition to launching a Bitcoin ETF.

The future stance of Vanguard regarding Bitcoin ETFs on their brokerage platform remains uncertain.

It is crucial to mention that Ramji, a former BlackRock executive involved in the successful Bitcoin ETF launch, holds this stance.