It was revealed that more than 50% of the top U.S. hedge funds own Bitcoin (BTC) spot exchange-traded funds (ETFs).
According to data from BTC custodian River, 13 of the 25 top U.S. hedge funds held BTC spot ETFs in the first quarter of this year. The hedge fund that invested the most in the BTC spot ETF is Millennium Management. The 27,263 BTC held by Millennium Management through the BTC spot ETF is worth approximately $1.69 billion (approximately KRW 2.3482 trillion), or 2.5% of total managed assets. Schonfeld Strategic Advisors, which holds 6,734 BTC, followed by Point72 Asset Management, which holds 1,089 BTC. However, Bridgewater Associates, the second largest hedge fund in the United States, AQR Capital Management, the fifth largest hedge fund in the United States, and Balyasny Asset Management, the sixth largest hedge fund in the United States, did not invest in the BTC spot ETF.
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General U.S. companies are also increasing their BTC holdings. Companies such as Reddit, Semler Scientific, JP Morgan, and Wells Fargo are managing some of their cash holdings as BTC or BTC spot ETFs. This means that American companies have begun to regard BTC as a means of responding to risks in traditional financial markets and diversifying investments.
- Reporter Lee Yeon-ju
- juya@rni.kr
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