ETFs & Mutual Funds
Millennium, Point72 and Elliott Are Among Bitcoin ETF Buyers
- Retail owns most of the float but money managers have waded in
- Rationale for all ETF purchases unclear, but demand is evident
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When it comes to Bitcoin ETFs, it’s not just the retail trading crowd that’s taking the plunge. It’s now clear that hedge funds, pension funds and banks have also sprinkled capital into the exchange-traded funds after their blockbuster debut that was more than a decade in the making.
Among the most well-known buyers that have emerged are hedge funds like Millennium Management, which held around $2 billion worth of shares in at least four Bitcoin ETFs, as well as Steven Cohen’s Point72 Asset Management and Elliott Investment Management.