Capula Management, a major hedge fund based in London, has significantly expanded its cryptocurrency holdings, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). The fund, which manages approximately $30 billion in assets, reported acquiring 4,022,346 shares of Fidelity’s Wise Origin Bitcoin Trust (FBTC) and 7,419,108 shares of BlackRock’s iShares Bitcoin Trust (IBIT). As of market close on Monday, these holdings were valued at around $190.3 million in FBTC and $228.2 million in IBIT, totaling approximately $418.5 million.
The SEC’s approval of 11 spot Bitcoin ETFs in January has provided a regulated platform for investors to engage with the volatile cryptocurrency market. These ETFs have proven successful and garnered substantial institutional interest, fulfilling predictions that they would offer easier access to Bitcoin. Currently, these funds hold tens of billions of dollars in Bitcoin, reflecting a surge in investment interest in recent months.
Institutional investment in Bitcoin continues to grow, as evidenced by recent moves from Wells Fargo and the State of Wisconsin Investment Board, which have both increased their exposure to Bitcoin ETFs. This trend underscores a broader shift among institutional investors toward diversifying portfolios with digital assets.
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