Millennium, Capula, Tudor pile bitcoin ETFs into portfolios
Published On Nov 18, 2024, 3:55 PM
Major hedge funds such as Millennium, Capula, and Tudor have significantly increased their investments in U.S. spot bitcoin ETFs following their approval by the SEC. This surge in investment aligns with a strategy to capitalize on the price differences between spot bitcoin and futures, particularly after the recent election. Notably, Millennium Management raised its exposure in the iShares Bitcoin Trust to about $849 million, while Tudor increased its holdings fivefold. This trend suggests a growing confidence in bitcoin and its ETFs as a hedge against market volatility and potentially lucrative investment opportunities.
Stock Forecasts
IBIT
Positive
The increase in hedge fund investments into bitcoin ETFs illustrates a bullish sentiment towards bitcoin as they leverage strategic trades that exploit pricing discrepancies. Since bitcoin ETFs have shown a substantial gain of about 40% recently, the expectation is that these trends will continue positively as institutional interest builds, especially with upcoming Bitcoin halving events possibly driving demand.
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