The post $4.7B Institutional Investment in Spot Bitcoin ETF appeared on BitcoinEthereumNews.com.

As we take a look at the historic Q2 2024 data, institutional investors made some bold moves in the cryptocurrency space, collectively channeling a hefty $4.7 billion into spot Bitcoin ETFs. This isn’t just pocket change—it’s a clear sign that big financial players are no longer tiptoeing around Bitcoin. SoSo Value Bitcoin ETF Q2 They’re diving in headfirst. Goldman Sachs & Morgan Stanley Goldman Sachs, that old guard of Wall Street, now holds a staggering 7 million shares of spot BTC ETFs, worth a cool $418 million. It’s like watching a traditionalist finally embrace the new kid on the block, and it’s about time. They see BTC as a long-term bet, not just some fad that’ll fizzle out. Not to be outdone, Morgan Stanley has snapped up 5.5 million shares of BTC ETFs, valued at $190 million. For a bank often seen as cautious, this is a pretty bold move, reflecting their growing confidence in BTC, despite its notorious ups and downs. Millennium Management Millennium Management, once the heavyweight champ in the BTC ETF arena, has trimmed its holdings from $1.94 billion in Q1 to $1.1 billion by the end of Q2. But before you think they’re backing out, they’re still the biggest player in the Fidelity Wise Origin Bitcoin Fund (FBTC). Looks like Millennium is just fine-tuning its strategy—less of a retreat, more of a calculated move. Citadel and Jane Street Meanwhile, Citadel has tripled its stake in the ProShares BTC Strategy ETF, now holding 860,727 shares worth $19 million. This isn’t just a small bet; it’s a declaration of intent. They’re clearly banking on Bitcoin’s future. Jane Street, on the other hand, isn’t messing around either. With over 14 million shares of BITO, valued at $320 million, they’re showing that Bitcoin ETFs are no longer fringe assets—they’re firmly…

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Filed under: News - @ August 16, 2024 4:27 pm