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Bitcoin sinks in Q2 as institutional ETF holdings rise
Institutional spot Bitcoin ETF holdings climbed 7.5% in Q2 to 535,723 BTC equivalent, even as Bitcoin fell 14.2% over the quarter.
Crypto research cited in CryptoSlate shows Bitcoin fell 14.2% in the second quarter, even as institutional holdings tied to US-traded spot Bitcoin ETFs increased over the same period. Bitcoin Strategy estimated that ETF-related holdings rose 7.5% in Q2, moving from 498,389 to 535,723 BTC equivalent.
CryptoSlate also highlights that the uptick occurred alongside a decline in the breadth of reported filers. The number of institutions reporting Bitcoin positions through SEC 13F filings fell about 6.8% from roughly 2,000 to around 1,900, according to Bitcoin Strategy’s estimate.
Comparisons across methodologies were also a key theme. CryptoSlate notes that CoinShares, using a different approach from the prior quarter, counted about 261,000 BTC held by professional 13F filers, and put the professional share of US-traded spot Bitcoin ETF assets at 20.8%, far below Bitcoin Strategy’s 44.2% figure.
Within the 13F set, CryptoSlate points to divergent bank and manager activity. JPMorgan’s ordinary IBIT position rose 25.35% during the quarter, from 8,302,691 shares to 10,407,635 shares, and Renaissance Technologies increased its ordinary IBIT position by 312.92% to 1,403,942 shares, while some allocators held positions largely flat.
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