The crypto market is in a state of flux for now, with some altcoins sky-rocketing while others are enduring a tough month at the office. Although retail enthusiasm is subdued, the introduction of spot Bitcoin ETFs has breathed life into institutional interest in the industry. Of the top 25 hedge funds, over half have some exposure to Bitcoin via these exchange-traded products. The biggest holder, Millennium Management, owns more than US $1b in BTC on behalf of its clients. Meanwhile, Goldman Sachs have also entered the scene after going on a buying spree in Q2 2024. The topsy-turvy economic conditions of the past month have not deterred hedge funds from investing in crypto. According to holdings reports from the top 25 hedge funds (by assets under management), more than half of the firms hold BTC – via the wrapper of an ETF. The news comes as interest in spot Bitcoin funds continues to grow, despite weaker performance from most of the crypto market. Related: World-largest State Pension Fund "Unintentionally" Buys Bitcoin Biggest Hedge Fund Holder of BTC Owns Over AU $2b of the Asset Institutional interest in Bitcoin has been consistent throughout 2024, even as the average retail investor mostly watches on from the sidelines. Massive financial companies like BlackRock, Franklin Templeton and even crypto-haters JPMorgan have invested (or released) spot Bitcoin ETFs throughout the year. Now, massive hedge funds such as G.S. Asset Mgmt and Schonfeld are joining them. NEW: 60% of the largest Hedge Funds have disclosed #Bitcoin ETF holdings