Bill Miller’s Multibillion-Dollar Hedge Fund to Add Bitcoin Exposure via GBTC
Billionaire hedge fund manager Bill Miller’s flagship fund will soon be able to add bitcoin exposure by investing in Grayscale’s bitcoin trust (GBTC), according to its filing with the U.S. Securities and Exchange Commission (SEC). The fund currently has about $2.25 billion in assets under management. Bill Miller’s $2.25M Hedge Fund to Invest in GBTC The Miller Opportunity Trust, a hedge fund in the Miller Value Funds family, has filed an amendment to its registration statement with the U.S. SEC to be able to gain exposure to bitcoin. Billionaire investor Bill Miller....
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Bill Miller is set to increase his Bitcoin exposure by plowing 15% of one of his portfolios to buy Grayscale BitcoinTrust shares. Hedge fund legend Bill Miller is exhibiting an even larger appetite for Bitcoin (BTC). According to a Friday filing with the United States Securities and Exchange Commission, The Miller Opportunity Trust is seeking indirect exposure to BTC via the Grayscale Bitcoin Trust.The planned investment is coming at a time when the GBTC premium is at its lowest level since April 2019.If the GBTC shares acquisition does pull through, it will mark a significant departure....
In a report filed with the U.S. Securities and Exchange Commission (SEC), the fund managers for the Miller Opportunity Trust, Bill Miller’s hedge fund, state that “bitcoin has significant upside potential as a form of digital gold.” The report details that despite its volatility, bitcoin’s “risk-reward is attractive.” Hedge Fund Manager Sees Bitcoin’s ‘Significant Upside Potential’ Miller Value Funds’ semi-annual report for the Miller Opportunity Trust, filed with the U.S. Securities and Exchange Commission (SEC) last....
Millennium Management, one of the world’s largest hedge funds, reportedly had exposure to Grayscale Bitcoin Trust as NAV fell steeply.
Guggenheim’s billion-dollar Marco Opportunities Fund (MOF) may seek indirect exposure to BTC through the investment of 10% of its net asset value into Grayscale’s BTC Trust (GBTC). The investment (when complete) means MOF will have committed as much as $497 million into the GBTC. In a November 27 amended prospectus filing with the U.S. SEC, Guggenheim explains the rationale for seeking indirect exposure to BTC. According to the explanation, Guggenheim’s MOF wants to achieve its investment objective by “investing in a wide range of fixed-income and other debt and....
Millennium, the U.S.-based alternative investment management firm, has become the latest hedge fund to get exposed to cryptocurrencies via Grayscale Investments’ bitcoin trust. However, the extent of Millennium’s exposure to the crypto asset has not been disclosed as both Millennium and Grayscale executives have refused to comment. Nevertheless, a report by The Street says two sources claiming to have knowledge of the deal have confirmed Millenium’s acquisition of the shares. The report also quotes one of the two unnamed sources suggesting that Millennium, which has $48....