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In the week ending August 16th 2024, Bloomberg reported that hedge funds, pensions and banks continued to lavish capital into exchange-traded funds that invest directly in Bitcoin, as more traditional investors embrace the asset class that US regulators begrudgingly helped push into the mainstream at the beginning of the year. Among the most well-known buyers that have emerged are hedge funds like Millennium Management, which held shares in at least five Bitcoin ETFs.

However, US hedge funds Millennium Management and Schonfeld Strategic Advisors have cut their spot bitcoin ETF holdings. New York-headquartered Millennium, which manages over $68bn in assets, has reduced its bitcoin ETF holdings from roughly $1.9bn in the first quarter to $1.15bn in the second.

In new launches, Swedish global investment giant EQT would raise $12.5 billion for its new Asia-focused fund - EQT Private Capital Asia's BPEA Private Equity Fund IX; Chicago-based private investment firm Valor Equity Partners closed its latest flagship fund - Valor Equity Partners VI - at $2.35 billion, surpassing its original $2bn target, showcasing investors' appetite for more high growth opportunities, and LGT Capital Partners, a global specialist in alternative investing, has raised $2bn in assets for two new semi-liquid open-ended investment vehicles, adding to its private equity and private credit fund range.

Further in new launches, software investor Insight Partners is approaching the final close of its 13th flagship offering after roughly two years on the road - the New York manager has raised more than $10 billion for Insight Partners X......................

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