In the fourth quarter of 2024, asset managers—including wealth management firms, hedge funds, and pension funds—significantly increased their allocations to U.S. exchange-traded funds (ETFs) linked to Bitcoin, as the cryptocurrency’s price surged by 47%. Notable investments include the State of Wisconsin Investment Board doubling its holdings in the iShares Bitcoin Trust ETF to 6 million shares, Tudor Investment Corp boosting its stake to 8 million shares valued at $426.9 million, and Mubadala Investment Co acquiring 8.2 million shares in the same ETF. Goldman Sachs also expanded its Bitcoin ETF holdings to $1.5 billion during this period.
This trend reflects growing institutional confidence in Bitcoin ETFs, offering a regulated avenue for exposure to the cryptocurrency. The surge in Bitcoin’s price during this period has been attributed to favorable macroeconomic conditions and supportive regulatory developments.
As of February 15, 2025, Bitcoin is trading at $97,583, reflecting continued interest and investment in the cryptocurrency market.
