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Hedge funds reduce Bitcoin ETF exposure as sovereign and wealth investors increase allocations

Reported · Written up by our desk · Equity Funds

Hedge funds reduced their holdings in US spot Bitcoin exchange-traded funds (ETFs) between late 2025 and mid-2026, while allocators increased their exposure to the cryptocurrency, citing research from Galaxy Research. Nine hedge funds collectively cut their Bitcoin ETF holdings by approximately 68,000 BTC over the period, with the reductions largely attributed to changing relative-value opportunities rather than a fundamental shift in sentiment towards Bitcoin. Higher yields on US Treasury bills have made traditional arbitrage strategies involving Bitcoin ETFs less attractive to leveraged inve

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Sources

HedgeweekHedge funds reduce Bitcoin ETF exposure as sovereign and wealth investors increase allocations

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