Millennium Management, one of the foremost hedge funds, has now amassed over $2 billion worth of Bitcoin ETFs, positioning itself at the pinnacle of Bitcoin ETF holders. This information comes from Eric Balchunas, Bloomberg's chief ETF analyst. Millennium's portfolio includes shares from prominent Bitcoin ETFs such as BlackRock's IBIT, Fidelity's FBTC, and Grayscale's GBTC, among others.

Founded by American billionaire Israel Englander, Millennium Management's significant investment in Bitcoin ETFs was revealed through the 13F forms that firms were required to submit by the May 15 deadline. These forms provide industry observers with insights into the current rate of Bitcoin ETF adoption.

Balchunas noted the impressive diversity among the initial batch of ETF holders, which includes various types of institutions. Notably, the State of Wisconsin Investment Board (SWIB), responsible for managing state pensions, recently disclosed a near $100 million investment in Bitcoin. Other significant Bitcoin ETF holders include Pine Ridge Advisers, Edmond de Rothschild (Suisse), JPMorgan, Wells Fargo, and Susquehanna International Group.

While the list of Bitcoin ETF holders is predominantly composed of hedge funds, there are also advisors without hedge fund affiliations. However, Balchunas points out that university endowments have yet to enter the Bitcoin ETF space.

Despite the rising popularity of Bitcoin ETFs, Vanguard appears to be abstaining from this trend. Incoming Vanguard CEO Salim Ramji, a former BlackRock executive who played a role in the rollout of BlackRock's successful Bitcoin ETF, has dismissed the possibility of Vanguard launching its own Bitcoin ETF. It remains unclear whether Vanguard will allow Bitcoin ETFs to be available on its brokerage platform.

As Millennium Management takes the lead in Bitcoin ETF holdings, the landscape of institutional investment in cryptocurrency continues to evolve, marked by diverse participation and significant financial commitments.