52% of Top US Hedge Funds Now Own Bitcoin ETFs

Over half of the largest hedge funds in the US now hold Bitcoin ETFs, indicating a significant shift in institutional adoption of Bitcoin.
52% of Top US Hedge Funds Now Own Bitcoin ETFs

Key Takeaways

  • 52% of the largest US hedge funds now hold Bitcoin ETFs.
  • Millennium Management holds $2 billion in Bitcoin ETFs.
  • Average business Bitcoin holdings have increased from 2.5 BTC to over 4 BTC.

Bitcoin’s adoption is on the rise, shifting from individual hands to significant institutional ownership.

Research by Bitcoin exchange River.com reveals that 534 institutions with over $1 billion in assets now hold Bitcoin ETFs.

This group includes hedge funds, pensions, and insurance companies, highlighting the remarkable breadth of Bitcoin’s adoption.

Half of largest funds own BTC

Among the largest 25 hedge funds in the US, more than half have exposure to Bitcoin.

Notably, Millennium Management alone holds a staggering $2 billion in Bitcoin ETFs.

Furthermore, 11 of the largest 25 Registered Investment Advisors (RIAs) have allocations in Bitcoin, along with hundreds of smaller firms.

CEO Alex Leishman of River emphasized the growing institutional interest, stating:

If you sell your bitcoin to Blackrock, you probably won’t be getting it back.

Businesses also buying

Businesses are also increasing their Bitcoin holdings.

Over a thousand businesses on the River platform now hold Bitcoin on their balance sheets.

The average business’s holdings have grown from 2.5 BTC worth $70,000 a year ago to over 4 BTC worth $280,000.

This trend indicates that Bitcoin accumulation is no longer limited to large corporations like MicroStrategy but includes businesses of all sizes.

At the MicroStrategy World 2024 conference, Alex Leishman presented on Bitcoin Adoption Trends, sharing research on how Bitcoin is flowing globally and discussing the state of Bitcoin’s technological development.

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