These hedge fund billionaires bought shares of a spot Bitcoin ETF in the second quarter; some experts anticipate substantial upside in Bitcoin in the next decade and beyond.

During the second quarter, several billionaire-led hedge funds bought positions in the iShares Bitcoin Trust ( IBIT -1.57% ) , an exchange-traded fund (ETF) that tracks the spot price of Bitcoin ( BTC 0.73% ) . The fund is issued by BlackRock , the largest asset manager in the world.

Israel Englander of Millennium Management added 3.8 million shares. The iShares Bitcoin Trust now ranks among his top 15 holdings.

Philippe Laffont of Coatue Management bought 56,500 shares. The iShares Bitcoin Trust is one of his smallest holdings, but it represents a new position.

Steven Schonfeld of Schonfeld Strat

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