- Increase in Bitcoin ETF Holdings
- Top Bitcoin ETF Holders
- Hedge Funds Showing Interest in Spot Bitcoin ETFs
Bitcoin ETF holdings surged by 30% in the second quarter of 2024, despite a significant drop in Bitcoin's price. This rise comes amid turbulent market conditions in the cryptocurrency sector.
Increase in Bitcoin ETF Holdings
Bitcoin's price plummeted from $72,000 to $56,000, marking a 12% decline. Despite this, institutional investors demonstrated resilience. This trend highlights a shift in institutional strategy towards digital assets and indicates broader adoption despite short-term market volatility. According to data shared on platform X (formerly Twitter), the number of holders of U.S. spot Bitcoin ETFs increased from 1,479 in Q1 to 1,924 in Q2 2024.
Top Bitcoin ETF Holders
Among the major players in the Bitcoin ETF space, Goldman Sachs and Morgan Stanley stand out. Recent filings show that Goldman Sachs holds approximately $238.6 million in BlackRock’s iShares Bitcoin Trust (IBIT), making it one of the top holders. Morgan Stanley follows closely with a $187 million stake in the same fund.
Hedge Funds Showing Interest in Spot Bitcoin ETFs
According to a Bloomberg report, interest from hedge funds in spot Bitcoin ETFs has significantly grown. By the end of the second quarter of 2024, 701 new funds reported holdings in these ETFs, bringing the total number of holders close to 1,950. The spot Bitcoin ETFs, launched in January, have far exceeded expectations, drawing in a total of $17 billion in net inflows this year.
The increase in spot Bitcoin ETF holders in Q2 2024 underscores the growing interest from institutional investors in digital assets despite market volatility. This trend may lead to increased market activity and liquidity in the crypto space.
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