Bitwise CIO: Institutions are still increasing their holdings of Bitcoin ETFs in Q2 and most of them are diamond hands, and hedge funds are important participants

Odaily Odaily News Bitwise CIO Matt Hougan recently shared some of his initial thoughts on X after reviewing the 13-F documents related to the Q2 Bitcoin ETF: "1. There are still institutions entering the market, and the number of 13-F documents has increased: there are 1,924 holders of all 10 ETFs <> ETF pairs, higher than 1,479 in Q1, an increase of 30%; considering the fall in the price of Bitcoin in Q2, this performance is good; of course, this does not mean that 1,924 institutions own Bitcoin ETFs; some investors report holding multiple ETFs. But this "double counting" also applies to Q1 and Q2 data, so the percentage increase is still very convincing. My conclusion is: institutional investors continued to adopt Bitcoin ETFs in Q2, and this trend has not changed. 2. Institutional investors (mostly) are diamond hands: Most institutional investors who allocated in Q1 held or purchased more ETF shares this spring. Among the Q1 filers, 44% of them added Bitcoin ETFs in Q2. 3. Hedge Funds Remain Important Players: Looking at the largest holders of most ETFs, you’ll find a lot of major hedge funds: Millennium, Schonfeld, Boothbay, Capula, etc., but there are also a large number of advisors, family offices, and select institutional investors. My conclusion: ETFs are a big tent that attracts a wide variety of investors. It’s nice to see Millennium’s holdings in these ETF files rival those of Wisconsin. Over time, I expect to see wealth managers and pensions take a larger and larger share.”