New data from Bitcoin brokerage firm River reveals that the largest US hedge funds have combined to accumulate billions of dollars worth of BTC exchange-traded (ETF) shares.
In a new thread on the social media platform X, River says that even though BTC’s market cap is relatively small, many of the largest hedge funds in the US already have significant exposure to the crypto king.
[adinserter block="1"]“Twelve of the largest 25 US hedge funds collectively have over $2.6 billion Bitcoin ETF exposure. Eleven of the largest 25 Registered Investment Advisors (RIAs) also have exposure.
All while Bitcoin is just a $1 trillion asset class.”
Some of the marquee hedge funds that own Bitcoin ETFs as of March 31st include Millennium Management, Citadel Investment Group, Mariner Investment Group, Renaissance Tech and Point72 Asset Management, according to River.
The brokerage firm further notes that hundreds of RIAs have collectively invested billions of dollars in Bitcoin ETFs.
“RIAs have made relatively small allocations. But there are 405 advisors with $1 billion+ in assets that have collectively allocated $2.5 billion to Bitcoin ETFs.”
Bitcoin is trading for $67,066 at time of writing, a fractional decrease during the last 24 hours.
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