In January of this year, a laundry list of Bitcoin (BTC) spot Exchange-Traded Funds (ETFs) entered the US stock exchanges, opening the doors to a new influx of capital from institutional investors, as you could read in the Bitcoin news a few months ago.
New filings with the U.S. Securities and Exchange Commission (SEC) show that the vast majority of institutional investors from Q1 held on to or even added to their BTC holdings in Q2.
44% increase BTC position, 22% hold
Professional investors are required to disclose their investments through a so-called 13F filing with the SEC. These forms must be filed quarterly and provide an overview of the securities held by the financial institutions.
The obligation makes it clear who invests in Bitcoin ETFs. After the first quarter, a total of 1,479 combinations of institutions and ETFs were counted. This does not mean that 1,479 different institutions have invested in Bitcoin funds, as many institutions open positions in different ETFs.
Earlier today, Bitwise Chief Investment Officer Matt Hougan said on social media platform X that new 13F filings show this number increased by 30% in the past quarter to 1,924.
Additionally, 44% of Q1 institutional investors increased their Bitcoin ETF positions in April through June, while 22% made no changes.
Only 21% of investors reduced their positions and 13% completely closed them out, which is “a pretty good result, comparable to other ETFs”.
Institutional Bitcoin ETF Adoption Continues
Hougan concludes that the adoption of bitcoin ETFs among institutional investors in the past quarter has continued from the first quarter. ”The trend remains strong,” Hougan said.
In contrast to the grandiose first quarter, the Bitcoin price has shown little in the second quarter. Bitcoin has largely fluctuated between $60,000 and $70,000, causing many retail investors to exit the market.
Hougan notes that institutional investors, on the other hand, are “diamond hands” who do not panic-sell when volatility increases:
“If you thought institutional investors would panic at the first sign of volatility, the data suggests otherwise. They remain fairly stable.”
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Source: https://newsbit.nl/tweederde-van-institutionele-beleggers-houdt-bitcoin-vast-of-koopt-bij-in-tweede-kwartaal/
