• Despite market volatility, 66% of institutional investors held or increased their Bitcoin ETF positions in Q2 2024, reflecting robust confidence.
  • Major banks like Morgan Stanley and Goldman Sachs significantly increased their Bitcoin ETF holdings, underscoring sustained institutional commitment.

In the second quarter of 2024, 66% of institutional investors either held or increased their Bitcoin ETF positions , according to Bitwise. This development aligns with CNF’s recent update on the Bitcoin sell-off triggering bargain prices for ETF investors—potentially pushing BTC’s price back to $70,000.

Despite a 14.5% drop in asset value over the quarter, 44% of asset managers expanded their Bitcoin ETF holdings, while only 21% reduced their positions.

Bitwise’s Matt Hougan noted that institutional investors have shown resilience, continuing to adopt Bitcoin ETFs despite market volatility. In his tweet, Hougan also noted that the 30% increase in holder/ETF pairs reflects strong institutional commitment, with major investment banks like Morgan Stanley and Goldman Sachs showing significant exposure to Bitcoin ETFs.

A few initial thoughts after reviewing the Q2 Bitcoin 13-F filings:

1) The Institutions Are Still Coming; Total Filings Are Up: 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.

Of course, this…

— Matt Hougan (@Matt_Hougan) August 14, 2024

Two-Thirds Hold or Buy More in Q2

The number of holder/ETF pairs rose by 30% from Q1 to Q2, reflecting strong institutional interest. Notably, investment banks like Morgan Stanley and Goldman Sachs have significant holdings in Bitcoin ETFs, with Morgan Stanley owning $188 million in BlackRock’s iShares Bitcoin Trust.

This trend underscores steady institutional commitment to Bitcoin, despite fluctuations in asset prices. According to market dynamics, a recent CNF update previously discussed that investors rushed to buy Poodlana as Bitcoin ETF inflows exploded. As for now, Bitcoin (BTC) is tarding at $58,087.91 decreased by 4.53% in the past day and  surged by 1.48% in the past week.

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