13 of the Top 25 U.S. Hedge Funds Already Have Bitcoin ETF Exposure

As of the end of the first quarter of 2024, 13 of the top 25 U.S. hedge funds had bitcoin ETF exposure, according to investment firm River. Notable among them is Millennium Management, which owns 27,263 BTC worth $1.69 billion, or roughly 2.5% of its total assets under management (worth $67.7 billion). Other key players include Schonfeld Strategic Advisors (with 6,734 BTC) and Point72 Asset Management (with 1,089 BTC). In contrast, some of the top hedge funds, such as Bridgewater Associates, AQR Capital Management and Balyasny Asset Management, have yet to invest in a Bitcoin ETF.