Millennium Management, the $48 Billion multi-strategy hedge fund is believed to have got gained exposure to Bitcoin via Grayscale Bitcoin Trust (GBTC) as documented by The Road. This is a big news thinking of Millennium Management is biggest hedge fund yet to get Bitcoin exposure. Also, since reported by CoinGape lately, Grayscale is also planning to convert the Bitcoin trust to Bitcoin ETF .
Millennium Management Largest Hedge Account to Trade GBTC
As per the reviews, Millennium Management was among the investors exposed to free fall of net asset value of GBTC. As of now, the hedge fund has $48. several Billion asset under administration and is by far the largest to be exposed to Bitcoin. This is interesting because it indicates the large level of institutional interest GBTC is attracting and exactly why they are leading in race of Bitcoin ETF. The volume of Millennium’ s investment in GBTC is still not known.
While the race of Bitcoin ETF is getting hot, prominent contenders include Goldman Sachs, Morgan Stanley, VanEck And Grayscale Bitcoin Trust (GBTC).
The SEC needs to take a call for VanEck’ s Bitcoin ETF app by early May exactly where they may finally approve or reject the application.
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