Institutions Holding the Most BTC ETFs in Q1 Millennium Q2 Reduces ETF Holdings by Over 40% of Asset Size

According to Millennium Management's 13-F filing with the SEC, Millennium held BlackRock's IBIT, Grayscale's GBTC, Bitwise's BITB, Fidelity's FBTC, and ARK's ARKB in the second quarter, resulting in approximately $1.14 billion in Bitcoin spot ETF assets. This compares to approximately $2 billion in BTC ETF assets in the first quarter, and was the largest holding of spot BTC ETFs in the first quarter.

Millennium reduced its holdings of bitcoin ETFs by more than 40%, with IBIT reducing its holdings by 48%, FBTC reducing its holdings by 14%, GBTC reducing its holdings by 52%, and BITB increasing its holdings by 71%. IBIT reduced its holdings by the largest amount, with 9.98 million shares, or roughly $470 million, (see chart below).

Millennium Management, founded in 1989, is known as a multi-strategy hedge fund with Q1 total assets of $234 billion and Q2 total assets of $215.9 billion, with crypto investments accounting for less than one percent of the total.