A fresh look at 13F filings has provided one of the clearest analyses yet on who actually holds exchange-traded Bitcoin funds on the spot market - and the results show a significant shift in progress.
Investment advisors, often seen as the 'diamond hands' in the market, have moved to the top position as the largest holders by a wide margin, with exposure exceeding $10 billion and around 125,000 Bitcoin.
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This places them well ahead of hedge fund managers and brokers, who hold about $6.9 billion and $2.1 billion, respectively.
Currently, these 13F file depositors make up about 20% of the total assets of exchange-traded Bitcoin funds, but analysts believe this number could rise significantly, possibly reaching 35-40% as more large financial institutions and custodians start to join.
It's not just a temporary shift; it's a real change in how institutions think about Bitcoin. They are being more cautious, thinking long-term, and preferring tools like exchange-traded funds that are ready for regulatory compliance.
This supports a noticeable increase in inflows. On June 3 alone, net inflows reached $378 million, bringing the total to $44.48 billion. The BlackRock IBIT fund remains at the forefront, with assets of $70 billion, but Fidelity, Ark, and Bitwise are performing well too. The wider market now holds assets worth $128 billion in exchange-traded Bitcoin funds, representing over 6% of Bitcoin's total market capitalization.
After a tough spring, recent monthly and weekly flows suggest that things might be improving. If the 40% prediction materializes, it could be a massive step in Bitcoin's growth in the traditional finance world.
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