Capula Management, Europe’s fourth largest hedge fund with about $30bn in assets, has revealed a significant holding in spot bitcoin ETFs, with the firm having invested a combined $464m in two funds, according to a report by CoinJournal.
The report cites documents filed with the US Securities and Exchange Commission as showing that Capula invested $253m in BlackRock’s iShares Bitcoin Trust (IBIT) and $211m in Fidelity’s Wise Origin Bitcoin (FBTC) ETF.
Capula’s disclosure comes amid a challenging market environment, with citcoin experiencing downward price pressure. However, institutional interest in bitcoin ETFs continues to grow. Pension funds and major financial institutions are increasingly investing in these products. Notably, Morgan Stanley has become the first major Wall Street bank to permit financial advisors to recommend spot bitcoin ETFs to their clients.
Data from Arkham also reveals that significant BTC holders, including MicroStrategy, BlackRock, Fidelity, and Grayscale, have retained their BTC assets despite recent market losses.
On Monday, Bitcoin’s price dipped below $50,000, falling to levels last seen in February, although it subsequently rebounded to over $53,000.
