In an announcement on May 15, Boothbay Fund Management, a New York City investment firm, declared its position as the primary holder in various Bitcoin exchange-traded funds (ETFs). According to a filing with the U.S. Securities and Exchange Commission (SEC), Boothbay is now the top holder in BlackRock iShares Bitcoin ETF (IBIT), Fidelity Wise Origin Bitcoin ETF (FBTC), Bitwise Bitcoin ETF (BITB), and Grayscale’s GBTC Bitcoin ETF, with investments totaling over $377 million.

Boothbay Fund Management has made significant investments in Bitcoin ETFs, including $149.80 million in BlackRock’s iShares Bitcoin ETF, making it the largest holder to date. Similarly, it invested $105.50 million in Fidelity’s Wise Origin Bitcoin ETF, becoming the leading holder in that as well. Additionally, the firm disclosed holdings in Bitwise Bitcoin ETF and GBTC, positioning itself as a major player in the cryptocurrency investment market.

Notably, Boothbay's investments in BlackRock, Fidelity, and GBTC Bitcoin ETFs are its top three holdings, reflecting its confidence in the cryptocurrency market. Alongside these investments, the firm has also engaged in trading shares of companies such as Coinbase, MicroStrategy, and Robinhood Markets, according to the SEC filing.

The positive momentum in U.S. Spot Bitcoin ETFs at the beginning of the week has been accompanied by renewed interest from traders. With a net inflow of nearly $170 million over the first two days of the week, following three days of outflows the previous week, the U.S. Spot Bitcoin ETF market is showing signs of resurgence.

Bitcoin's price surged to $65,000 following the release of cooler CPI inflation data at 3.4%, providing investors with some relief. The likelihood of Federal Reserve rate cuts starting in September has further buoyed market sentiment. Increased trading volumes in the cryptocurrency market in recent days are attributed to whale accumulation and investments in spot Bitcoin ETFs by hedge funds and investment managers.

In conclusion, Boothbay Fund Management's substantial investments in Bitcoin ETFs signal confidence in the cryptocurrency market, coinciding with positive momentum and renewed trader interest in U.S. Spot Bitcoin ETFs.