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.