Matt Hougan gave several examples of the increased activity of large corporate investors. Millennium Management, a hedge fund with $64 billion under management, allocated more than $2 billion in the first quarter to purchase shares of leading spot Bitcoin ETFs.
Insurance giant Mass Mutual has about $100 million in GBTC assets, while Boothbay Fund Management, with $16 billion in assets under management, reported holding more than $300 million in assets in four spot Bitcoin ETFs: IBIT, GBTC, FBTC and BITB.
“As of last Thursday, 563 professional investment firms reported holding $3.5 billion worth of Bitcoin ETFs. We project that by the end of May, the number of such investors will approach 700, and total Bitcoin assets will approach $5 billion,” Matt Hougan said.
The investment director of Bitwise noted that in addition to professional investment companies, various family foundations joined the process. For example, the Rothschild billionaire fund Edmond De Rothschild has already invested more than $4 million in spot Bitcoin ETFs.
Earlier it became known that the Wisconsin Investment Council bought the assets of the IBIT and Grayscale ETFs for more than $160 million.
Source: Bits
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