Millennium Management, a prominent hedge fund, has made a significant investment in Bitcoin exchange-traded funds (ETFs), with a total stake of nearly $2 billion across five different funds.

The investment, which represents 3% of the fund's total assets under management, was disclosed in Millennium's quarterly 13F filing with U.S. securities regulators. The fund, led by Wall Street veteran Israel Englander, has allocated the largest portion of its Bitcoin ETF investment, approximately $844 million, to BlackRock's iShares Bitcoin Trust (IBIT).

In addition to IBIT, Millennium Management has invested more than $800 million in the Fidelity Wise Origin Bitcoin Fund (FBTC), about $202 million in shares of Grayscale's Bitcoin Trust (GBTC), and around $45 million in both ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF Trust (BITB).

The hedge fund's substantial investment in Bitcoin ETFs reflects the growing interest of institutional investors in these crypto-based funds. Millennium Management is not alone in this trend, as other investment firms, such as Apollo Management and Elliott Capital, have also shown interest in Bitcoin ETFs.

The move by Millennium Management highlights the increasing adoption of cryptocurrencies and the recognition of their potential as an investment asset class. As more institutional investors enter the market, it is likely that we will see continued growth and development in the Bitcoin ETF space.