In the first quarter of trading, both the size and number of institutional allocations to these ETFs have blown away consensus expectations. Blackrock's ETF alone set a record for the shortest time an ETF has hit $10 billion in assets.
As of Wednesday, we now know of 534 unique institutions with over $1 billion in assets that chose to begin allocating to bitcoin in Q1 of this year. Ranging from hedge funds to pensions and insurance companies, the breadth of adoption is remarkable.
Of the largest 25 hedge funds in the US, over half now have exposure to bitcoin, most notably a $2 billion position from Millennium Management. Additionally, 11 of the largest 25 Registered Investment Advisors (RIAs) are now allocated.
Large institutional investors are slow moving creatures from a financial system steeped in tradition, risk management, and regulations. For a pension fund to update its investment portfolio...
Collection
[
|
...
]