US Hedge Fund Boothbay Bet Big on BlackRock's Bitcoin ETF, Holding $150 Million in Shares

US Hedge Fund Boothbay Bet Big on BlackRock's Bitcoin ETF, Holding $150 Million in Shares

**US Hedge Fund Makes Major Investment in Bitcoin ETF** In a recent filing with the U.S. Securities and Exchange Commission (SEC), US-based hedge fund Boothbay Fund Management LLC has disclosed that it now holds approximately $150 million worth of shares in BlackRock's iShares Bitcoin Trust (iBTC). This latest investment by Boothbay highlights the growing institutional interest in digital assets and the mainstream adoption of bitcoin-related products. BlackRock's iBTC ETF, launched in October 2022, has quickly become one of the most popular ways for investors to gain exposure to bitcoin. The fund offers direct exposure to the price of bitcoin, without the need for individuals to hold or manage the digital asset directly. Boothbay's significant investment in iBTC underscores the growing confidence among institutional investors in the long-term potential of bitcoin. As the cryptocurrency market continues to mature, hedge funds and other large investors are increasingly recognizing bitcoin's role as a diversifier and potential hedge against inflation. **Previously, on May 15, 2024:** US hedge fund Boothbay Fund Management LLC disclosed holding approximately $150 million in shares of BlackRock's bitcoin spot ETF, iBTC, in a 13F filing with the SEC. ```