TechFlow news, according to Bitwise data analysis, approximately 66% of institutional investors held or increased their positions in U.S. spot Bitcoin ETFs during the second quarter of 2024.
Specifically, 44% of asset management firms increased their Bitcoin ETF holdings, 22% maintained their positions, only 21% reduced their exposure, and 13% exited completely.
"This is a pretty solid result, comparable to other ETFs," commented Matt Hougan, Chief Investment Officer at Bitwise. Despite a 14.5% decline in Bitcoin's value during Q2, institutional adoption of Bitcoin ETFs continues to grow.
Hougan noted that by the end of Q2, all ten funds combined had 1,924 holder-fund pairs, up 30% from 1,479 in Q1. He emphasized that institutional investors largely demonstrated "diamond hands," refraining from panic selling amid heightened volatility, unlike retail investors. Notably, hedge funds such as Millennium, Schonfeld, Boothbay, and Capula have become major ETF holders, while significant participation has also come from advisors, family offices, and other institutional investors.
