Wall Street has recently adjusted its position significantly on Strategy (formerly MicroStrategy) shares, with the total sale value estimated at around $540 million. This marks a major shift in the way financial institutions approach Bitcoin, as Strategy has long been XEM a “proxy stock” for Bitcoin due to its massive BTC holdings, but that Vai is fading as spot Bitcoin ETFs become more popular and attractive to institutional investors.
Market data shows that institutional holdings of Strategy shares fell by about 14.8% in the third quarter, with Capital coming from major asset managers such as Capital International, Vanguard, BlackRock, and Fidelity. In the period before the launch of spot Bitcoin ETFs, Strategy was the preferred choice for funds that wanted to own Bitcoin indirectly without having to manage the digital asset themselves. But now, institutional investors can buy Bitcoin through ETFs directly, transparently, and at a lower cost.
