More than 50% of hedge funds in the US have decided to invest part of their funds in spot BTC-ETFs.
They are attracted by returns that significantly outperform stocks and indices.
According to River, by the end of the first quarter, 13 of the 25 largest hedge funds in the US had become bitcoin-ETF investors.
Millennium Management has invested 2.5% of its capital in the cryptocurrency, which amounts to $1.69 billion.
Schonfeld Strategic Advisors and Point72 Asset Management have also become holders of BTC through the crypto-ETF.
While Bridgewater Associates, AQR Capital Management and Balyasny Asset Management have not yet decided to invest in bitcoin-ETFs.
Bitcoin returned nearly 94% in the first half of the year, while the S&P 500 index gained 23% and the Dow Jones gained 14%.
The only stocks that outperformed the cryptocurrency were Nvidia, jumping 150%, while other IT giants lost ground to bitcoin.
