Analyst: Bitcoin ETF institutional holdings accounted for 24% last quarter, up from 21.4% in the previous quarter

Odaily News HC Wainwright analysts said that by the end of the second quarter of 2024, institutional holdings of U.S. spot Bitcoin ETFs rose to 24%. This is up from 21.4% in the previous quarter, according to the latest 13-F filings and data compiled by Coinbase. Despite the challenging market environment, the total assets under management of these ETFs fell 13% month-on-month to $51.8 billion, but still achieved growth due to the decline in Bitcoin prices and new institutional investors including Goldman Sachs (holding $412 million in ETF shares) and Morgan Stanley (holding $188 million).