New information from Bitcoin brokerage agency River reveals that the biggest US hedge funds have mixed to build up billions of {dollars} value of BTC exchange-traded (ETF) shares.
In a brand new thread on the social media platform X, River says that despite the fact that BTC’s market cap is comparatively small, lots of the largest hedge funds within the US have already got vital publicity to the crypto king.
“Twelve of the biggest 25 US hedge funds collectively have over $2.6 billion Bitcoin ETF publicity. Eleven of the biggest 25 Registered Funding Advisors (RIAs) even have publicity.
All whereas Bitcoin is only a $1 trillion asset class.”
Among the marquee hedge funds that own Bitcoin ETFs as of March thirty first embody Millennium Administration, Citadel Funding Group, Mariner Funding Group, Renaissance Tech and Point72 Asset Administration, in line with River.
The brokerage agency additional notes that a whole lot of RIAs have collectively invested billions of {dollars} in Bitcoin ETFs.
“RIAs have made comparatively small allocations. However there are 405 advisors with $1 billion+ in belongings which have collectively allotted $2.5 billion to Bitcoin ETFs.”
Bitcoin is buying and selling for $67,066 at time of writing, a fractional lower over the last 24 hours.
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