Hi HODLers, Hiveans and Lions,
Well well well! The juggernauts of the finance world a.k.a the Hedge Fund Industry is very interested to get exposure to #Bitcoin and cryptocurrencies.
Roughly 13 out of the 25 biggest U.S.-based hedge funds held the spot bitcoin ETFs at the end of March, according to data from bitcoin brokerage River.
Point72, one of the most famous Hedge Fund in the world with its $34 billion Asset Under Management held $77.5 million of the Fidelity Wise Origin Bitcoin Fund (FBTC) at the end of March.
This is quite small as it represents 0.24% of their assets but this is a start isn't it?
Also, they are using the Fidelity ETF and as we learn with the Blackrock one.... There are big suspicions that some ETFs are NOT purchasing spot #bitcoin but just paper #bitcoin...
We need to investigate this further and make sure we buy ETFs (if we do) which truly hold Bitcoin such as $BITB which even diclosed their Bitcoin address for you to verify on the blockchain.
Let's make sure we double check these...
WEN $HIVE?
Stay safe out there!
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