Hedge Fund Giant Capula Reports $464 Million in Spot Bitcoin ETF Shares

London-based hedge fund Capula Investment Management has disclosed owning $464 million in spot bitcoin ETF shares, according to a filing with the U.S. Securities and Exchange Commission dated Monday. The filing reveals that Capula held shares in spot bitcoin ETFs issued by financial giants BlackRock and Fidelity as of June 30, marking the end of Q2.

However, with the recent decline in bitcoin's price, the value of Capula's holdings has also decreased. As of 1:11 PM EST on Monday, the position reported by Capula at the end of the last quarter would be valued at approximately $420 million.

Capula Investment Management, one of Europe's largest hedge fund managers, joins other major hedge funds in investing in bitcoin-based ETFs. Earlier this year, Millennium Management reported owning nearly $2 billion worth of shares in similar crypto-based exchange-traded funds.

This move by Capula underscores the growing interest and participation of institutional investors in the cryptocurrency market, even amidst price volatility. The continued investment in bitcoin ETFs by prominent hedge funds highlights the increasing acceptance and integration of digital assets into traditional financial portfolios.

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