Top US Hedge Funds Embrace Bitcoin ETFs as BTC Outperforms Major Stocks and Indexes

Over half of the top American hedge funds have disclosed exposure to newly launched spot Bitcoin exchange-traded funds (ETFs) in a year, as BTC/USD has significantly outperformed major stocks and indexes. Data from investment firm River reveals that 13 out of the top 25 United States hedge funds owned Bitcoin ETFs by the end of Q1 2024. Notably, Millennium Management held 27,263 BTC worth $1.69 billion, making up about 2.5% of its total assets under management worth $67.7 billion. Other significant players include Schonfeld Strategic Advisors with 6,734 BTC and Point72 Asset Management with 1,089 BTC. In contrast, some top