Approximately 66% of institutional investors either maintained or increased their Bitcoin holdings through U.S.-based spot exchange-traded funds (ETFs) in the second quarter, according to Bitwise.
Data from 13F filings with the Securities and Exchange Commission (SEC) reveals that 44% of asset managers expanded their Bitcoin ETF positions during this period, while 22% maintained their existing holdings. In contrast, only 21% reduced their positions, and 13% exited their investments entirely. Bitwise’s Chief Investment Officer, Matt Hougan, highlighted this as a positive outcome, noting it aligns with trends observed in other ETFs.
The SEC Form 13F is a quarterly report mandated for institutional investment managers with assets exceeding $100 million. Despite a 14.5% decline in asset value for Bitcoin ETFs over the quarter, institutional interest remained robust. Hougan emphasized that the number of holder/ETF pairs grew by 30% from Q1 to Q2, increasing from 1,479 to 1,924, despite the price drop.
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Hougan also pointed out that institutional investors displayed stability during periods of volatility, contrasting with the more reactive behavior of retail investors. Notable hedge funds, including Millennium, Schonfeld, Boothbay and Capula, were significant ETF holders. Hougan expressed optimism about the diverse range of investors attracted to ETFs and hopes to see continued growth among wealth managers and pension funds.
In a 13F filing dated August 14, Morgan Stanley disclosed holding 5,500,626 shares of BlackRock’s iShares Bitcoin Trust as of June 30, valued at $188 million, positioning the bank among the top fundholders. Goldman Sachs also reported significant exposure, with over $238 million in shares of IBIT and other spot Bitcoin ETFs.
Cre: cointelegraph
I’m Jessi Lee, currently living in Singapore. I am currently working as a trader for AZCoin company, with 5 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
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