Institutional Bitcoin ETF Adoption Surges 21% in Q2 – K33 Research
Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...
Institutional interest in Bitcoin (BTC) continues to surge, according to K33 Research analysts.
The number of professional firms holding investments in the United States (U.S.) spot Bitcoin exchange traded funds (ETFs) jumped by 262 in the second quarter of 2024 to a total of 1,199.
While retail investors continue to dominate Bitcoin ownership, institutional investors have significantly increased their stake in the market. Their share of total assets under management (AUM) climbed 2.41 percentage points to 21.15% in Q2.
Institutional ownership of BTC ETFs grew solidly in Q2!
According to 13F filings, 1,199 professional firms held investments in U.S. spot ETFs as of June 30, marking an increase of 262 firms over the quarter.
While retail investors still hold the majority of the float,… pic.twitter.com/YanrZpfcCG
— Vetle Lunde (@VetleLunde) August 16, 2024
Vetle Lunde, a senior analyst at K33 Research, highlights a shift in institutional preferences within the Bitcoin ETF landscape. While Grayscale Bitcoin Trust (GBTC) has seen a decline in institutional capital, other ETFs such as Invesco Bitcoin Trust (IBIT) and Fidelity Bitcoin Trust (FBTC) have seen a significant increase “in professional investor dominance”.
Market makers emerged as the largest institutional Bitcoin ETF owners. However, prominent investors like Millennium and Susquehanna reduced their exposure, likely due to increased competition from new entrants such as Jane Street and calmer market conditions leading to lower trading profits: “Annualized CME premiums closed at
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