ChainCatcher news, former Goldman Sachs executive and founder of macro research firm Real Vision, Raoul Pal, stated on social media: "One day, people will realize that the biggest users of Bitcoin ETFs and most of the trading volume come from hedge funds, which are arbitraging between spot and futures, perpetual contracts. The inflow of funds is mainly not directional, only marginally impactful."Raoul Pal believes that most of the funds flowing into Bitcoin ETFs are not based on investors betting on the long-term rise and fall of Bitcoin (i.e., directional investment). Instead, this capital primarily comes from hedge funds using ETFs for short-term arbitrage, aiming to profit from price differences rather than relying on the price movement of Bitcoin itself, and most of the activity does not reflect the broader market sentiment towards Bitcoin's price trends.

ChainCatcher news, a new survey shows that nearly half of hedge funds focused on traditional asset classes are now involved in cryptocurrency.According to the Global Cryptocurrency Hedge Fund Report released by the Alternative Investment Management Association and PwC on Thursday, 47% of hedge funds trading in traditional markets hold digital assets, up from 29% in 2023 and 37% in 2022. Among the funds that have already invested, 67% plan to keep their cryptocurrency capital at the same level, while the remaining funds plan to increase their investments before the end of 2024.

ChainCatcher news, according to Bloomberg Crypto on the X platform, Dubai now has 40 hedge funds with a scale of over $1 billion, and the hedge fund market is in a prosperous development stage.It is reported that the United States is also negotiating with the UAE on artificial intelligence.

ChainCatcher news, legendary hedge fund figure David Tepper stated that the Federal Reserve must cut interest rates at least two to three more times to maintain credibility. (Jin Ten)

ChainCather message, a user has created the "2024 Top Fund Investment Performance Dashboard" data on Dune Analytics, which tracks the year-to-date performance of 11 top venture capital funds. The data assumes that the funds have never sold the tokens of their investment projects, whether in the seed round or subsequent rounds. The tracking shows that, except for Coinbase Venture, the composite cumulative return rate of the investment portfolios of the other crypto venture funds is negative, including: OKX Venture, Pentera Capital, Delphi Venture, Spartan Venture, Binance Lab Venture, IOSG Venture, Multicoin Capital, Hashkey Capital, Polychain Capital, and Dragonfly Capital. Additionally, the data also indicates that the funding from these institutions this year has primarily flowed into three major areas: DeFi, Blockchain Infra, and GameFi.

According to ChainCatcher news, as reported by Bitcoin Magazine, 60% of the world's top 25 hedge funds have disclosed their Bitcoin ETF holdings. Among them:Citadel Investment Group: Holds 812 BTC, with an addition of 41 BTC this quarter.Millennium Management: Holds 27,263 BTC, with an addition of 1,429 BTC this quarter.Mariner Investment Group: Holds 930 BTC, with an addition of 493 BTC this quarter.Balyasny Asset Management: Holds 6 BTC, with an addition of 6 BTC this quarter.Renaissance Technologies: Holds 286 BTC, with an addition of 152 BTC this quarter.Point72 Asset Management: Holds 1,089 BTC.D.E. Shaw: Holds 132 BTC.Verition Fund Management: Holds 93 BTC.G.S. Asset Management: Holds 6,202 BTC, with an addition of 6,202 BTC this quarter.Schonfeld Strategic Advisors: Holds 6,734 BTC.Bluecrest Capital Management: Holds 9 BTC.Fortress Investment Group: Holds 1,181 BTC, with an addition of 428 BTC this quarter.Elliot Investment Management: Holds 1,092 BTC, with an addition of 924 BTC this quarter.Two Sigma Investments: Holds 458 BTC, with an addition of 428 BTC this quarter.Sculptor Capital Management: Holds 876 BTC.Other funds such as Bridgewater Associates, AQR Capital Mgmt., Alphadyne Asset Mgmt., etc., have not yet disclosed their Bitcoin ETF holdings.

ChainCatcher news, according to The Block, based on the 13F reports submitted by various hedge funds, these hedge funds collectively hold $4.7 billion worth of Bitcoin spot ETFs:Jane Street increased its position in IBIT by $221 million for the first time in Q2, while reducing its position in GBTC by 86%;European asset management firm Capula holds nearly $500 million in Bitcoin spot ETFs;Ken Griffin's Citadel increased its holdings in ProShares Bitcoin Strategy ETF shares from the first quarter to the second quarter by twofold, reaching 860,727 shares, currently valued at $19 million, and also holds $67 million in call options and $52 million in put options for the fund. Citadel also holds a smaller position in its remaining BTC ETF, valued at less than $10 million.

ChainCatcher news, according to The Block, Europe's fourth-largest hedge fund Capula Management reports having $464 million in Bitcoin ETF assets. According to the documents, Capula holds shares of the spot Bitcoin ETFs issued by BlackRock and Fidelity.

ChainCatcher news, according to Crowdfund Insider, the digital asset hedge fund management company Nickel Digital Asset Management released research results indicating that the institution recently conducted a study on institutional investors and wealth managers in the United States, United Kingdom, Germany, Switzerland, Singapore, Brazil, and the United Arab Emirates, with a total asset management scale of approximately $1.7 trillion among the respondents. Currently, about one-fifth (20%) of the surveyed companies expect "Bitcoin to reach $100,000 within two years."In addition, the institution found that the respondents' confidence in the price performance of Bitcoin and Ethereum is translating into support for altcoins and other digital assets. Almost all respondents (98%) believe that altcoins and other digital assets will attract more investment, while only 83% expressed the same view in January.Nickel Digital Asset Management is a Europe-based digital asset hedge fund management company founded by former personnel from Bankers Trust, Goldman Sachs, and JPMorgan Chase.

ChainCatcher news, according to Cointelegraph, data from investment firm River shows that by the end of the first quarter of 2024, 13 of the largest 25 hedge funds in the United States had exposure to Bitcoin ETFs.Among them, Millennium Management holds 27,263 Bitcoins, valued at $1.69 billion, accounting for approximately 2.5% of its total assets under management (valued at $67.7 billion). Other hedge funds with significant Bitcoin holdings include Schonfeld Strategic Advisors (holding 6,734 Bitcoins) and Point72 Asset Management (holding 1,089 Bitcoins).On the other hand, some top hedge funds, such as Bridgewater Associates, AQR Capital Management, and Balyasny Asset Management, have yet to invest in Bitcoin ETFs.

ChainCatcher news, according to mondovisione, the digital asset trading platform and broker Bequant has announced the launch of a capital introduction platform aimed at crypto hedge funds, managers, family offices, and high-net-worth individuals.It is reported that this move marks a shift in its business model from primarily a broker to a proprietary trading firm. Bequant will now allocate its own capital to traders and investors using the platform, and crypto hedge funds will also have direct access to its configured liquidity pools.

ChainCatcher news reports that, according to data from a report released by ETC Group, the exposure of crypto hedge funds to the Bitcoin market has fallen to its lowest level since October 2020.André Dragosch, Head of Research at ETC Group, stated: "Crypto hedge funds have indeed recently abandoned Bitcoin. Over the past 20 trading days, they have reduced their Bitcoin market exposure to just 0.37, the lowest level since October 2020. It is difficult to determine the main factors behind the decline in risk exposure, as the crypto hedge fund industry encompasses many different strategies, which can be directional or market-neutral. However, it can be said that the overall net long exposure of these crypto hedge funds relative to Bitcoin as a benchmark has significantly decreased."

ChainCatcher news, according to Cointelegraph, recently, a U.S. appeals court overturned a regulation by the U.S. Securities and Exchange Commission (SEC) that required hedge funds and private equity firms to increase transparency regarding fees and expenses. The court found that this move exceeded the authority granted by Congress. This case strikes a blow against the regulatory agency's claims of congressional authorization over the industry. In recent years, outspoken critics of this regulatory agency within the cryptocurrency industry have raised similar criticisms.On June 5, the Fifth Circuit Court of Appeals ruled against the SEC, stating that it "exceeded its statutory authority." The 656-page regulation required funds to publish quarterly reports, conduct annual audits, and prohibited preferential treatment for certain investors. Six industry groups questioned whether the regulation would increase compliance costs and alter the operational model of the industry. Bill Hughes, a senior attorney at ConsenSys, stated that the SEC's performance over the past three years has been out of sync. In the cryptocurrency space, the SEC believes that many cryptocurrencies fall under its regulatory purview as securities, but cryptocurrency companies argue that the SEC lacks the authority to regulate unless explicitly authorized by Congress.

ChainCatcher news, CCData's research director Joshua de Vos stated that the bankruptcies of hedge funds Three Arrows and Alameda Research have provided an opportunity for new participants to enter the market after the rebound. Among the surviving funds, many have achieved double-digit and triple-digit percentage returns in recent months.de Vos mentioned that given the cyclical nature of cryptocurrencies, it is very likely that new crypto-native funds will emerge to help fill the gaps left by these entities and capitalize on the new opportunities arising in this cycle.According to tracking agency Galaxy VisionTrack, the total market for crypto-focused hedge funds has grown from $16.3 billion in December to $21 billion for the first time since October 2022.

ChainCatcher message, Matrixport stated in its latest report that the average funding rate for Bitcoin (annualized) has turned negative, which poses a real challenge for cryptocurrency hedge funds seeking arbitrage, but it also indicates that futures traders are reluctant to deploy large amounts of new capital. The reason may be the uncertainty of price upside potential in the current environment.

ChainCatcher news, hedge fund PSE Trading's core strategy product profit increased by 148.5% in 2023. Currently, the fund has achieved institutional-level asset custody and plans to collaborate with an auditing firm to release an audit report to further enhance transparency and trust.It is reported that PSE Trading focuses on investments in modular blockchain technology, the MOVE ecosystem, and the AI field.

ChainCatcher news, according to CryptoSlate, asset managers have a net long position of about $2 billion in Bitcoin futures; meanwhile, hedge funds have a roughly equivalent short position.