- Millennium Administration lowered its positions in Bitcoin ETFs corresponding to FBTC, IBIT and GBTC.
- Whereas the agency lowered holdings in GBTC by 52%, IBIT and FBTC positions have been lowered by 48% and 14% respectively.
- The corporate elevated shares in MSTR and BITB by 8837% and 71%, respectively.
Funding big Millennium Administration lately introduced changes to its Bitcoin Trade-Traded Funds (ETFs). Notably, in line with a submit shared by Dealer T, a outstanding voice on X, the hedge fund lowered its place within the Spot Bitcoin ETF within the second quarter.
To make clear, Millennium Administration lowered its positions in bitcoin ETFs, together with Constancy's Constancy Clever Origin Bitcoin Fund ( FBTC ), BlackRock's iShares Bitcoin Belief ETF ( IBIT ), and Grayscale Bitcoin Belief ( GBTC ). The largest drop was in GBTC as Millennium lowered holdings by 52%, bringing the ETF's worth to round $82 million.
Equally, the funding agency additionally trimmed its place in FBTC by 14%, which is at the moment valued at $589 million. IBIT's stake was additionally lowered by almost 48%, bringing its present worth to roughly $371 million.
Regardless of important portfolio reductions, Millennium additionally made a number of additions. The platform elevated its positions in Bitcoin ETFs corresponding to Bitwise Bitcoin ETF (BITB) and MicroStrategy's MSTR. Whereas Millennium added 71% to BITB and held almost $65 million in ETFs, MSTR noticed an enormous 8837% achieve, at the moment valued at $121 million.
In Might 2024, the agency revealed that it held about $1.94 billion in 5 spot bitcoin ETFs. Impressed by the hedge fund's big ETF investments, Bloomberg ETF analyst Eric Balchunas hailed MicroStrategy as “the king of bitcoin ETF holders.”
On the time, BlackRock's IBIT was the highest hedge fund ETF allocation with greater than $844 million invested. Constancy's FBTC got here in second with greater than $806 million in shares. Nonetheless, in line with a latest replace following a major drop in ETF shares, FBTC is in first place whereas IBIT is second within the rally.
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