Despite Bitcoin’s muted recent performance, 13-F reports for spot exchange traded funds (ETFs), paint an optimistic picture of BTC. Bitwise Chief Investment Officer (CIO) Matt Hougan has shared A recap of three key takeaways via X. He found that institutional investors are increasingly interested in Bitcoin. This is a bullish sign.
Bitcoin Institutional Adoption Increases by One Number
Hougan describes an incredible rise in institutional involvement with Bitcoin ETFs over the course of the second quarter. He reported, “I count 1,924 holder<>ETF pairs across all 10 ETFs, up from 1,479 in Q1. That’s a 30% increase; not bad considering prices fell in Q2.” The data shows that, despite the price drop, investors still view Bitcoins as viable assets. They are more interested in long-term investments than short-term speculative plays.
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Hougan closes. “Of course, this does not mean 1,924 institutions own bitcoin ETFs; some investors report positions in multiple ETFs. But that “The percentage change is not misleading because the double-counting is also true for Q1 and Q2. What I learned: Institutional investors The adoption of bitcoin ETFs increased in Q2. Trend is still intact.
The second type of institutional investor is a HODLer
Holding patterns revealed in these filings indicate that many institutional investors remain committed to Bitcoin ETF positions, demonstrating a resolute stance towards the volatility of the market. “Among Q1 filers, 44% increased their position in bitcoin ETFs in Q2, 22% held steady, 21% decreased their position, and 13% exited,” Hougan, said
This is particularly significant because it shows that during the period of major price fluctuation, more than two-thirds (or 67%) of these institutions increased or maintained their Bitcoin exposure. Hougan says that these data show institutional investors are able to make informed decisions. “diamond hands,” a term that is used by the local community to refer to holders of securities who will not sell them despite any pressure. market downturns.
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Hougan is added. “If you thought institutional investors would panic at the first sign of volatility, the data suggest otherwise. They’re pretty steady.”
Broad Investor Base
Hougan’s research also reveals the wide range of investors that are interested in Bitcoin ETFs. A number of major hedge funds, including Millennium, Schonfeld Boothbay, Capula, and Boothbay are featured prominently. top holders. The presence of family offices and advisors as well as other institutional investors, such the State of Wisconsin, is notable.
“ETFs are a big tent that attract a wide variety of investors. It’s kind of great to see Millennium nestled up against the State of Wisconsin in these ETF filings. Over time, I’d like to see wealth managers and pensions account for a growing share,” Hougan remarked.
Yesterday it became The Wisconsin Pension Fund increased their Bitcoin ETF investments. State of Wisconsin Investment Board, in an SEC filing on June 30, reported that they owned 2,898,051 iShares Bitcoin Trust Shares (worth $98.9 millions at the time). It is up from the previous 2,450 400 shares Wisconsin reported in May.
BTC is currently trading for $58,035.
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Source: www.newsbtc.com