These Traditional Finance Giants Bought Bitcoin ETFs Last Quarter

TradFi Giants Jump on BTC Bandwagon
Some of the largest Bitcoin ETF investments came from Millennium Management, a heavyweight hedge fund, and Susquehanna International Group (SIG), a global quantitative trading firm. The firms reported investments of $2 billion and $1 billion in the Bitcoin products, respectively.
Millennium Management and SIG’s investments were followed by Bracebridge Capital, a Boston-based hedge fund that manages money for top universities like Yale and Princeton, and Boothbay Fund, another fund manager based in New York. The entities purchased ETFs worth $434 million and $377 million, respectively.
Substantial ETF disclosures also came from top U.S. banking firm $Morgan Stanley(MS.US)$ and advisory company Pine Ridge Advisers, with investments totaling $269 million and $205.8 million, respectively.
In addition, alternative asset manager Aristeia Capital, investment firm Graham Capital, and hedge fund manager Crcm LP reported significant exposures of $163.4 million, $102.6 million, and $96.6 million, respectively, to the Bitcoin ETFs.

States to Follow?
Many other professional firms disclosed smaller investments in the Bitcoin ETF market. Some of them include Hightower Advisors with $68 million exposure, Fortress Investment Group with $53.6 million, Cambridge Investment Research with $40 million, Sequoia Financial Advisors with $12 million, Integrated Advisors with $11 billion, and Brown Advisory with $4 million.
Noteworthily, major banks like JPMorgan Chase and Wells Fargo invested even smaller amounts, totaling $760,000 and $143,000, respectively, in the Bitcoin ETF market.
It is also worth mentioning that most of these firms spread their investments across several ETFs, with Grayscale’s $Grayscale Bitcoin Trust(GBTC.US)$ , BlackRock’s $iShares Bitcoin Trust(IBIT.US)$ , Fidelity’s $Fidelity Wise Origin Bitcoin Fund(FBTC.US)$ , and Ark Invest’s $ARK 21Shares Bitcoin ETF(ARKB.US)$ seeing the largest allocations.
Meanwhile, the digital asset market may soon witness an influx of investments from state-owned professional firms. The State of Wisconsin Investment Board has already set the pace with a $163 million exposure to Bitcoin ETFs.