Top U.S. Hedge Funds Embrace Spot Bitcoin ETFs, 13 of 25 Invested: River Report
Out of the top 25 hedge funds in the United States, 13 have entered the market by investing in the ETFs during the first quarter.
Point72, the renowned hedge fund with $34 billion in assets under management, has revealed its investment in the Fidelity Wise Origin Bitcoin Fund (FBTC).
According to a recent filing, Point72 held $77.5 million worth of FBTC at the end of the first quarter.
The move follows a growing trend among various hedge funds that have disclosed their purchase of shares in spot Bitcoin exchange-traded funds.
Prominent hedge funds, including Elliott Capital led by Paul Singer and Millennium Management owned by Izzy Englander, have publicly shared their investments in these new funds.
A majority (52%) of the nation's largest hedge funds are betting on #Bitcoin
With the introduction of Bitcoin ETFs, institutions have run out of reasons to say no to sound money
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