Millennium Management and Schonfeld Strategic Advisors disclosed some of the largest spot Bitcoin ETF investments among traditional financial firms to date, according to their 13F filings for the first quarter.Millennium invested a total of $1.9 billion in spot Bitcoin ETFs, comprised of $844.2 million in BlackRock’s IBIT, $806.7 million in Fidelity’s FBTC, $202 million in Grayscale’s GBTC, $45.0 million in Ark’s ARKB, and $44.7 million in Bitwise’s BITB.Schonfeld Strategic Advisors disclosed a $248.0 million investment in IBIT and a $231.8 million investment in FBTC, totaling $479 million.According to Fintel data, the two funds hold the largest IBIT and FBTC investments, with Millenium first in each category and Schonfeld second. Millenium also ranks among the 10 largest holders for each of the other spot Bitcoin ETF investments.In addition to the significant size of each company’s investments, the disclosure represents a major hedge fund manager’s entry into Bitcoin ETFs.Millenium had $69 billion in assets under management (AUM) at the end of 2023, while Schonfeld had $13 billion in AUM.Each company’s disclosure comes at the last minute, as May 15 marks the quarterly deadline for 13F filings. Numerous other firms, including Aristeia Capital, Boothbay Fund Management, and Pine Ridge, disclosed large investments in IBIT and other funds earlier today.Meanwhile, Morgan Stanley disclosed an investment in GBTC, revealing itself as one of several Global Systemically Important Banks (G-SIBs) with spot Bitcoin ETF holdings.Days earlier, Bitwise CIO Matt Hougan estimated that over 700 professional companies would invest nearly $5 billion in total by the May 15 deadline. However, he emphasized that retail investment is responsible for a large portion of spot Bitcoin ETF assets.All 10 available spot Bitcoin ETFs have combined assets under management of $53 billion and cumulative inflows of $12 billion. Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting. Daily digest of top crypto stories and market insights. Never miss out.The S-1 filing follows the SEC’s approval of NYSE Arca’s proposed rule change on behalf of ProShares.Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely without first establishing a futures market or changing regulation.Ripple said Standard Custody CEO Jack McDonald would help the firm achieve its USD-backed stablecoin plans.The examinations will determine S&C’s awareness of FTX misconduct and potential conflicts during SBF’s Robinhood shares acquisition.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
