Institutional investors significantly increased their exposure to Bitcoin exchange-traded funds (ETFs) in the fourth quarter of 2024, as revealed by recent 13F filings with the U.S. Securities and Exchange Commission (SEC). This rise in institutional interest coincided with Bitcoin’s 47 percent price surge during the same period.
Major Institutional Players Expand Bitcoin ETF Holdings
The State of Wisconsin Investment Board more than doubled its holdings in the iShares Bitcoin Trust ETF, reaching 6 million shares by December 31, 2024. Tudor Investment Corp, a well-known hedge fund, also expanded its position to 8 million shares, valued at approximately 426.9 million dollars at year-end.
New institutional investors entered the Bitcoin ETF market as well. Mubadala Investment Co, Abu Dhabi’s sovereign wealth fund, acquired an 8.2 million share stake in the iShares ETF, worth an estimated 436.9 million dollars. Hedge fund Hunting Hill Capital also re-established itself as a key player, holding positions valued at about 131 million dollars by the end of 2024.
Financial Advisors and Hedge Funds Drive Demand
Financial advisory firms have also expanded their Bitcoin ETF portfolios. Cetera Advisors and NewEdge Advisers increased their holdings across multiple ETFs, including those from Fidelity, ARK Investments, and Invesco. This trend suggests a rising demand among clients for cryptocurrency exposure through regulated investment products.
One of the most notable players, Millennium Management, disclosed a substantial 2.6 billion dollars in Bitcoin ETFs and 182.1 million dollars in Ethereum ETFs in its latest filing. The hedge fund’s largest Bitcoin ETF position was in BlackRock’s iShares Bitcoin Trust, worth over 844 million dollars, followed closely by Fidelity’s Wise Origin Bitcoin Fund, which surpassed 806 million dollars.
Wall Street Firms Deepen Their Crypto Exposure
Traditional financial institutions are also increasing their participation in the crypto ETF market. Goldman Sachs disclosed a significant investment in spot Bitcoin ETFs, totaling approximately 418.65 million dollars. The bank now holds shares in seven out of eleven U.S.-based Bitcoin ETFs, including those from BlackRock and Fidelity.
The SEC’s approval of Bitcoin and Ethereum ETFs has provided a regulated pathway for institutional investors to gain cryptocurrency exposure. As a result, pension funds, hedge funds, and financial advisory firms are increasingly incorporating digital assets into their portfolios. With institutional adoption accelerating, cryptocurrencies are poised to play an even greater role in the financial sector.
