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[Hedge funds Millennium Management , Elliott Capital, Apollo, etc. hold more than $2.6 billion in spot Bitcoin ETFs]
According to the 13F quarterly reports submitted by institutional investors to the U.S. Securities and Exchange Commission, hedge funds such as Millennium Management, Elliott Capital, and Apollo hold more than $2.6 billion worth of spot Bitcoin ETFs.
Among them, Millennium Management, a hedge fund led by billionaire Izzy Englander, manages more than $64 billion in assets and holds about $2 billion in spot Bitcoin ETFs. The largest position is BlackRock's iShares Bitcoin Trust (IBIT), which is about $844 million. It also owns more than $800 million in Fidelity Wise Origin Bitcoin Fund (FBTC) and $202 million in Grayscale Bitcoin Trust (GBTC), as well as ARK/21's ARKB and Bitwise's BITW.
Elliott Capital, owned by Paul Singer, another hedge fund, disclosed that it held nearly $12 million in BlackRock IBIT at the end of this quarter.
Apollo Management Holdings disclosed that it held $53.2 million worth of shares in ARKB, a subsidiary of ARK/21, at the end of the quarter.
Other notable firms that disclosed allocations to spot bitcoin ETFs on Wednesday include Aristeia Capital and Hudson Bay Capital.
[U.S. stocks closed: all three major stock indexes hit record highs, MicroStrategy rose 15%]
U.S. stocks closed on Wednesday, with the Dow Jones Industrial Average initially closing up 350 points or 0.89%, the S&P 500 up 1.17%, and the Nasdaq up 1.4%. All three major stock indexes hit record highs. GameStop (GME.N) fell 18%, AMD (AMD.O) rose 4%, and MicroStrategy (MSTR.O) rose 15%.
[ Bitwise CIO: Professional investors' spot Bitcoin ETF allocation ratio will rise to 1%-5%]
Bitwise Chief Investment Officer Matt Hougan said the Bitcoin ETF allocation disclosed in the recent 13F filing with the SEC is just a "down payment" and he expects the allocation of spot Bitcoin ETFs in professional investors' portfolios to rise to 1-5% because most professional investors need 6 to 12 months to evaluate cryptocurrencies, following a pattern of due diligence, personal allocation, isolated client allocation, and full platform allocation stages.
“Many firms begin making allocations across their entire client roster, ranging from 1-5% of the portfolio, beginning approximately six months after the initial allocation,” Hougan wrote in a note to clients.
[K33 Report: FTX's repayment of creditors may trigger market buying pressure]
A report from digital asset brokerage firm K33 on Tuesday suggested that the reimbursement of collapsed cryptocurrency exchange FTX could have a bullish impact on the cryptocurrency market.
“While the repayments of Mt. Gox and Gemini creditors represent bearish events for the market, FTX’s cash repayments could be viewed as a bullish event,” K33 wrote in the report. “Both Mt. Gox and Gemini will repay creditors in kind, while FTX is selling assets to pay creditors in cash. On a net basis, buying pressure from cash recipients could offset selling pressure from in-kind repayments.”
But K33 noted that repayment timing may still affect the cryptocurrency market, with Gemini expected to repay $1.7 billion worth of debt in early June and Mt. Gox expected to repay $8.9 billion worth of debt by the October 2024 deadline.
[ Federal Reserve Neel Kashkari: Bitcoin has almost no practical use, it is neither an investment tool nor a currency]
Neel Kashkari of the Federal Reserve said in a speech: "I reiterate my view that Bitcoin has almost no practical use. It is neither an investment tool nor a currency. At the same time, I still doubt the value of central bank digital currency."
[TrueBridge Capital Partners launches blockchain fund for the first time, raising $62 million]
TrueBridge Capital Partners announced that its five funds have raised $1.6 billion, of which the blockchain fund has raised $62 million. The five funds include:
1. TrueBridge Capital Partners Fund VIII completed fundraising of US$884 million;
2. TrueBridge Direct Fund III completed $253 million in fundraising and will focus on mid- and late-stage technology companies;
3. TrueBridge Secondaries I completed $230 million in fundraising, focusing on mixed investment portfolios;
4. TrueBridge Seed & Micro-VC II completed a fundraising of US$189 million, focusing on seed stage and micro-venture capital;
5. Blockchain fund TrueBridge Blockchain I raised US$62 million and focuses on seeking a high-potential blockchain project investment portfolio.
It is reported that TrueBridge Capital Partners has launched its first blockchain fund. Mel Williams, general partner of the fund, said that the fund recognized the potential of blockchain technology very early on, and the launch of this exclusive fund emphasized its continued commitment to this field.
[ Blast announced that it will launch airdrop on June 26]
Ethereum L2 network Blast said in a post that its airdrop activity will be launched on June 26, which is later than the originally expected May. In order to express apology, the platform will increase the airdrop allocation. Before the airdrop, there will be two final Dapp Gold allocations.
Author: BitpushNews Mary Liu
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