Part 5/11:
Millennium stands out as the largest holder of Bitcoin related assets, with approximately $2 billion in holdings and an allocation of over 3% of their sizeable portfolio. They also hold a considerable amount of Grayscale Bitcoin Trust (GBTC).
Sahana (Sig), managing hundreds of billions, has a modest but notable allocation—around 0.26%—and increased its holdings in Bitcoin and Grayscale during Q1 2024.
Horizon Kinetics has taken a more aggressive approach, allocating nearly 14% of their $7 billion management fund to Bitcoin, turning to it as a "new bond" alternative amid declining yields.
Morgan Stanley has begun dabbling, with assets just below $300 million, signifying bigger players are testing the waters for future ETF launches.