Institutionalinvestorsnowholdapproximately20%ofallUS-tradedspotBitcoin(BTC)exchange-tradedfunds(ETFs),accordingtorecentdata.
CryptoQuantCEOandfounderKiYoungJurevealedthatthelatest13FFormfilingsshowthatinstitutionalinvestorsholdover193,000BTCviaBitcoinETFsasofOct.18.
Healsorevealedthatroughly1,179institutionshaveinvestedinUS-tradedspotBitcoinETFs.Thelistincludes$70billionassetmanagerMillenniumManagement,$438billiontradingfirmJaneStreet,and$2.93trillioninvestmentbankGoldmanSachs.
IBITleadsinabsoluteamount
Inabsolutenumbers,BlackRock’siSharesBitcoinTrustETF(IBIT)hasthemostBitcoinsheldbyinstitutions,withover71,000BTC.However,itsinstitutionaladoptionpercentageof18.38%isbelowaverage.
Grayscale’sGBTCregistered44,707.89BTCheldbyinstitutionalinvestors,thesecond-largestamount,with20.25%ofitsshareholdersbeinginstitutionalinvestors.
Meanwhile,ARK21Shares’ARKBhadthehighestinstitutionalparticipation,with32.8%ofitssharesownedbyassetmanagers,equatingtoroughly17,166BTC.
TheETFwiththeleastinstitutionalparticipationisGrayscale’sBitcoinMiniTrust,withjust1.52%ofitssharesheldbytheseinvestors,whileCoinSharesValkyrieETF(BRRR)showsthesmallestabsoluteamountinBitcoins,with451.26BTCboughtbyinstitutionsthroughtheproduct.
Thethird-largestETF,Fidelity’sFBTC,isalsothethirdoptionsoughtbyinstitutionalinvestors,with44,623.23BTCheldbyinstitutionalinvestors,whichmakeup24.14%ofitsholders.
BitcoinETFandpricecorrelation
ArecentVanEckreporthighlightedastrongercorrelationbetweenBitcoinETFflowsandthecryptocurrency’spriceinrecentmonths,drivenlargelybyincreasinginstitutionaladoption.
SpotBitcoinETFstradedintheUSbrokethe$21billionthresholdinyear-to-dateflowsonOct.18,accordingtoFarsideInvestorsdata.
AccordingtoVanEcksurgeininstitutionalinterestmayexplainBitcoin’s11%priceincreaseinOctober,reaching$67,478.TheassetmanagersuggeststhatgrowingdemandfrominstitutionscouldcontinuetofuelBitcoin’supwardmomentuminthenearfuture.
cryptoslate.com