Point72, the $34 billion hedge fund of billionaire and owner of the New York Mets, Steven Cohen, held $77.5 million of the Fidelity Wise Origin Bitcoin Fund as of the close of the first quarter,who have disclosed that they purchased shares of the spot bitcoin exchange-traded funds, including Paul Singer's Elliott Capital and Izzy Englander’s Millennium Management, with the latter being the biggest institutional holder of the new funds with roughly $2 billion as of March 31.
compiled by bitcoin brokerage firm River. Among them, in addition to the names mentioned earlier, were Fortress Investment Group and Schonfeld Strategic Advisors. While hedge fund purchases of the spot ETFs might be a long-term bet on"number go up," these vehicles could be bought for other reasons, market making, hedging, yield generation, or for a short-term flip, to name a few.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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