Advisor holdings in Bitcoin ETFs rise, hedge fund stakes dip — Coinbase
Investment advisors are expanding their spot Bitcoin ETF holdings, but Coinbase warns that “large inflows” might not be seen immediately due to the slow summer period in the United States.
Investment advisors have ramped up their stakes in spot Bitcoin exchange-traded funds (ETFs) during the second quarter of 2024, while hedge fund holdings have seen a slight decline, according to cryptocurrency exchange Coinbase.
It is likely that the rate of investment advisors holding spot Bitcoin (BTC) ETFs is only going to increase further as “more brokerage houses complete their due diligence on these funds,” according to an Aug. 16 report published by Coinbase.
The proportion of institutional holders labeled as “investment advisors” rose 3% during the second quarter of 2024, now accounting for 9% of total institutional investment. The exchange pointed out that this is just based on firms managing more than $100 million in assets which are required to file the US Securities an Exchange Commission’s (SECs) 13-F form.
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Author: Ciaran Lyons
