London-based Capula Management, one of Europe's largest hedge funds with over $30bn in assets, has made a substantial foray into the cryptocurrency market with a nearly $500m investment in bitcoin ETFs, according to a report by Tech Business News.
The report cites a recent regulatory filing with the US Securities and Exchange Commission as showing that Capula Management has acquired significant holdings in two major Bitcoin ETFs – Fidelity’s Wise Origin Bitcoin Trust and BlackRock’s iShares Bitcoin Trust. As of 30 June, Capula held 4,022,346 shares of FBTC, valued at around $211m, and 7,419,108 shares of IBIT, worth approximately $253m, bringing the firm's total investment in bitcoin ETFs to $464m.
This move by Capula underscores the growing institutional interest in cryptocurrency ETFs in 2024. Despite recent market volatility, which saw new outflows of nearly $175m from bitcoin ETFs between 31 July and 2 August – institutional investors, including hedge funds, continue to increase their exposure to digital assets.
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