Schonfeld Advisors Trims Bitcoin ETF Holdings by 20% Amid Institutional Rebalancing

Schonfeld Advisors has trimmed its Bitcoin ETF holdings by approximately 20% in Q2 2024, a move that reflects broader institutional rebalancing following a record-breaking Bitcoin ETF launch quarter. The New York-based hedge fund reduced its position from about $479 million to $384 million during the period.

This adjustment is part of a trend seen among institutional investors, with other firms like Millennium Management also cutting their Bitcoin ETF holdings significantly. Despite the reduction, Schonfeld maintained diversified exposure across multiple Bitcoin ETFs, suggesting a strategic resizing rather than a loss of confidence in the asset class.