Adding to its staggering portfolio, Capula Management announced investing just shy of $500 million in spot Bitcoin exchange-traded funds (ETFs) on 5 August 2024.
The London-based hedge fund, Europe’s fourth-largest hedge fund, manages over $30 billion in assets.
BlackRock and Fidelity Bitcoin ETFs Added To Capula’s Balance Sheet
INTEL: Capula Management, the fourth largest hedgefund in Europe, reports $500M in Bitcoin ETF holdings
— Solid Intel 📡 (@solidintel_x) August 5, 2024
According to a recent filing with the US Securities and Exchange Commission (SEC), Capula holds $464 million in spot Bitcoin ETFs as of 30 June, 2024. The filing shows that its holdings include shares from both BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC).
This investment comes during a rocky time for Bitcoin ETFs, which saw a record $237.4 million in outflows on 2 August 2024, following Bitcoins drop from $65,000 to $49,780 between 2 August – 5 August.
However, data from UK-based investment management company, Farside, shows that inflows have been positive, between 18 July and 5 August. Grayscale (GBTC) are the only Bitcoin ETF that have experienced negative outflows in that same period.
Hedge Funds Adding Billion-Dollar Bitcoin ETF Positions To Portfolios
Startup hedge fund Millenium, with a mere $64B under management, added two #Bitcoin ETFs to its portfolio in Q1, and they were the largest additions to its book. pic.twitter.com/JbLcpFgn7p
— ◢ J◎e McCann 🧊 (@joemccann) May 15, 2024
Other hedge funds, such as New York-based Millennium Management, also reported large Bitcoin ETF holdings back in May 2024. It disclosed holdings of $1.94 billion in Bitcoin ETFs across five different offerings (ARKB, BITB, GBTC, IBIT and FBTC).
Also, since Bitcoin ETFs went live in January 2024, it has attracted over $50 billion in total inflow across all offerings. Ethereum ETFs, which only launched in June, already holds about $8 billion in assets across nine different funds.
To summarise, the recent market volatility has caused mass sell-offs from panicked retail investors. However, institutional players such as Capula and Millenium are still investing heavily into ETFs.
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