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Bitcoin: Here is the new king of ETFs!

Thu 16 May 2024 ▪ 3 min of reading ▪ by Eddy S.
Regulation Crypto

The giant Millennium makes a sensational entry into the world of Bitcoin ETFs! With no less than 2 billion dollars invested in these listed index funds, the flagship investment fund has just dethroned all its competitors. A real earthquake that could well change the game in the nascent ecosystem.

Bitcoin ETF Crypto

Millennium, the giant of ETFs!

The latest figures don’t lie, Millennium Management has just established itself as the new undisputed leader in Bitcoin ETF investments. Izzy Englander’s structure has indeed spread the staggering amount of 2 billion dollars across the main funds of the market. A level of diversification rarely observed so far according to experts.

Moreover, the allocation choices demonstrate a real long-term vision. The flagship BlackRock fund alone concentrates nearly 850 million dollars of exposure to BTC. But Millennium has not put all its eggs in one basket. The investment is spread across several other major players like Fidelity, Grayscale, ARK, and Bitwise.

The institutionalization of Bitcoin is underway

Beyond the colossal amount invested, this massive influx of capital into crypto ETFs has an extremely strong symbolic significance. It indeed confirms the increasingly clear breakthrough of Bitcoin in major traditional investment portfolios.

Moreover, Millennium is not an isolated case since other giants have also plunged into the gap recently. Whether it’s Elliott Capital, Apollo, or Aristeia, the participations are counted in tens of millions of dollars. In total, 12.1 billion dollars are now invested in various listed Bitcoin ETFs!

now 12.1 billion dollars are invested in various listed Bitcoin ETFs!
Top Bitcoin ETF

Moreover, the institutional appetite for these investment products seems far from drying up. Last Wednesday was even marked by the highest daily influx recorded since May into US Bitcoin ETFs. No less than 303 million dollars were indeed injected in one day, led by Fidelity’s Wise Origin BTC Trust (FBTC) fund, which alone captured 131 million.

Spurred by the new wave of institutionalization, Bitcoin scores a new resounding victory with Millennium’s historic investment. By massively positioning itself on dedicated ETFs, the American giant shows the way forward for the entire sector. Enough to delight the enthusiasts of a crypto ecosystem that continues to gain credibility, maturity, and attractiveness.

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Eddy S. avatar
Eddy S.

Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.