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Hedge fund Schonfeld Strategy Advisors holds $479 million exposure to spot Bitcoin ETFs

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2024-05-16 00:33:39
Hedge fund Schonfeld Strategy Advisors disclosed on Quarter 1's 13F filing that it invested $248 million in IBIT and $231.80 million in FBTC, for a total of $479 million.
Millennium Management has invested a total of $1.90 billion in spot Bitcoin ETFs, including BlackRock's IBIT $844.20 million, Fidelity's FBTC $806.70 million, Grayscale's GBTC $202 million, Ark's ARKB $45 million and Bitwise's BITB $44.70 million.
According to Fintel data, the two funds hold the largest IBIT and FBTC investments, with Millenium ranking first in each category and Schonfeld second. Millenium also ranks among the top 10 holders of spot investments in other Bitcoin ETFs.
In addition to the sheer size of each company's investment, the disclosure also represents the entry of a major hedge fund manager into a bitcoin ETF.
At the end of 2023, Millenium's assets under management (AUM) were $69 billion, while Schonfeld's assets under management were $13 billion.
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