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In the past few weeks, more and more institutions have disclosed their holdings of Bitcoin spot ETFs to the SEC. According to Bitwise statistics, as of last week, 563 institutions have disclosed, holding a total of $3.5 billion worth of Bitcoin spot ETFs. Bitwise expects the number of institutions holding positions to exceed 700, with assets under management exceeding $5 billion.
According to Blockworks data, the total AUM (funds under management) of Bitcoin spot ETFs in the United States is currently $58.3 billion. If, as Bitwise predicts, institutional holdings only account for $5 billion, then who is buying the remaining more than $50 billion in assets?
In fact, the $ 50 billion gap includes the capital injection by the issuer before the launch of the Bitcoin spot ETF. Apart from this factor, the institutions disclosed due to the P13 documents still account for a relatively low share, and most of the remaining funds come from small and medium-sized institutions and retail investors that do not meet the P13 document disclosure threshold. (Odaily Note: The disclosure threshold for the P13 document is companies that manage more than $100 million in U.S. assets or institutions and individuals that buy and sell more than 5% of a single ETF share.)
Retail investors and small and medium-sized institutional investors dominate Bitcoin spot ETFs, which may be due to the fact that Bitcoin prices have risen sharply several times in the past six months, thus driving retail investors to buy.
In addition, although large institutions have a relatively low share in Bitcoin spot ETFs, they have already surpassed other ETFs. In this article "Bitwise Chief Investment Officer: Who is buying Bitcoin ETFs? ", the data of Bitcoin spot ETFs and gold ETFs were compared. Judging from the number of institutional holdings alone, Bitcoin spot ETFs have surpassed gold ETFs at the time.
In general, Bitcoin spot ETF is a good investment target for traditional financial institutions, especially under the premise of today's turbulent international situation and unclear timing of the Federal Reserve's interest rate cut. Traditional finance needs high-quality assets such as Bitcoin that have a certain degree of risk resistance to make up for the overall investment risks.
Previously, Odaily Odaily had compiled a list of well-known institutions that have disclosed their Bitcoin holdings. Uncovering the BTC spot ETF holding institutions: Rothschild and JPMorgan Chase are not among the top ten, who is the first? ", but recently there are institutions with holdings exceeding $100 million, including Morgan Stanley and UBS, which are world-renowned institutions. For this reason, Odaily Odaily has updated the previous chart inventory as follows.
