Millennium Management, a $48 Billion multi-strategy hedge fund is believed to have gained exposure to Bitcoin via Grayscale Bitcoin Trust (GBTC) as reported by The Street. Right here is a tall data pondering Millennium Management is largest hedge fund but to have Bitcoin exposure. Also, as reported by CoinGape now now not too long ago, Grayscale can be planning to convert the Bitcoin trust to Bitcoin ETF.
Millennium Management Largest Hedge Fund to Replace GBTC
As per the reviews, Millennium Management used to be amongst the merchants exposed to free fall of fetch asset price of GBTC. As of now, the hedge fund has $48.3 Billion asset under administration and is by a ways the largest to be exposed to Bitcoin. Right here is provocative because it signifies the monumental scale of institutional hobby GBTC is attracting and why they are leading in slump of Bitcoin ETF. The volume of Millennium’s funding in GBTC is aloof now now not known.
Whereas the slump of Bitcoin ETF is getting hot, prominent contenders consist of Goldman Sachs, Morgan Stanley, VanEck And Grayscale Bitcoin Trust (GBTC).
The SEC desires to steal a name for VanEck’s Bitcoin ETF utility by early May well perhaps where they’ll simply lastly approve or reject the utility.
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