Top Hedge Funds Increase Investments in Bitcoin ETFs

A growing number of top hedge funds are investing in Bitcoin ETFs, with 60% of the largest 25 firms now holding these assets, signaling a broader acceptance of cryptocurrencies by institutional investors.

Major players like Millennium Management, Citadel, and G.S. Asset Management have integrated Bitcoin ETFs into their portfolios.

Notably, Millennium Management has the largest position, with 27,263 BTC, after adding more during the second quarter of 2024. G.S. Asset Management, which made a significant entry in Q2 2024, and Schonfeld Strategic Advisors also hold sizable amounts.

Other hedge funds, such as Mariner Investment Group and Elliot Investment Management, have expanded their Bitcoin ETF holdings as well.

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This trend reflects a growing shift toward digital assets, particularly after favorable U.S. regulatory changes earlier this year, though some firms remain cautious.

Despite this surge, not all hedge funds are participating. Firms like Bridgewater Associates and AQR Capital Management have yet to invest in Bitcoin ETFs, highlighting varying levels of interest across the industry.

Alexander Stefanov