A new look at 13F filings has provided one of the clearest analyses yet of who actually holds Bitcoin ETFs on the spot exchange - and the results show a significant shift in progress.
Investment advisers, often seen as the 'diamond hands' in the market, have taken the top spot as the largest holders by a wide margin, with exposure exceeding $10 billion and around 125,000 Bitcoins.
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This puts them well ahead of hedge fund managers and brokers, who hold about $6.9 billion and $2.1 billion, respectively.
Currently, these 13F filers make up about 20% of the total assets of Bitcoin ETFs, but analysts believe that this number could rise significantly, possibly reaching 35-40% as more large financial institutions and custodians join.
It's not just a temporary shift; it's a real change in the way institutions think about Bitcoin. They are being more cautious, thinking long-term, and preferring tools like ETFs that are ready to comply with regulations.
This supports a noticeable increase in inflows. On June 3 alone, net inflows reached $378 million, bringing the total to $44.48 billion. BlackRock's IBIT fund is still in the lead, with assets of $70 billion, but Fidelity, Ark, and Bitwise are also performing well. The broader market now holds assets worth $128 billion in Bitcoin ETFs, representing over 6% of Bitcoin's total market cap.
After a tough spring, recent monthly and weekly flows suggest that things may improve. If the 40% forecast materializes, it could be a huge step in Bitcoin's growth in the traditional finance world.
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