Institutional giants dive into Bitcoin ETFs – Who’s buying and who’s selling?

Galaxy Digital’s income surge and increased ETF investments propelled Bitcoin’s latest hike tooSurprisingly, IBIT remained stagnant for the third consecutive day, neither seeing significant inflows nor outflows. Fidelity’s FBTC was the one leading the charge with a substantial influx of $131.3 million.“That’s a Bull Market Multiple of 276! No one is ready for this bullrun. We’ve seen nothing yet!”As of 31 March, Millennium had a total of $1.94 billion invested across five spot Bitcoin ETFs.

Notably, BlackRock’s Bitcoin fund represents the hedge fund’s largest allocation, with over $844 million invested, followed closely by Fidelity’s fund with just over $806 million in shares held., the newly appointed CEO of Vanguard in a recent conversation with ‘Barron’s’, stood firm on the company’s decision not to pursue a spot Bitcoin ETF launch., Bracebridge Capital disclosed a $363 million investment in spot Bitcoin ETFs, while J.P. Morgan’s clients contributed $731,246 to the same.

Moreover, on 15 May, Galaxy Digital Holdings Ltd. made waves with a remarkable 40% hike in net income to $422 million, attributed to the influence of spot Bitcoin ETFs. Hence, these recent resurgences in spot Bitcoin ETF investments might have been the biggest factors behind Bitcoin’s hike this week.Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.

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