PANews reported on August 26, according to Cryptoslate, that in the second quarter of 2025, investment advisors drove institutional investors' exposure to Bitcoin up to $33.6 billion through ETFs. Data shared by Bloomberg ETF analyst James Seyffart shows that institutions have cumulatively increased their holdings by 57,375 Bitcoins across all tracked categories. Bloomberg data indicates that the Bitcoin ETF positions held by investment advisors currently reach $17.4 billion, nearly double the $9 billion exposure of hedge fund managers. Among the new investors, Brevan Howard Capital Management has become the largest institutional shareholder, increasing its BlackRock iShares Bitcoin Trust shares to 37.5 million, valued at $2.3 billion. Harvard Management Company also entered the market with a $117 million position, comparable to the largest holdings in U.S. listed stocks, and the Bitcoin held by its endowment fund has now exceeded gold in dollar terms.
Seyffart stated that investment advisors are now the largest holders of spot Bitcoin ETFs, increasing their holdings by 37,156 to a total of 161,909 in the second quarter. Almost all of the 15 categories saw an increase in holdings, with only pension funds remaining unchanged. Brokerage firms and banks ranked second and third among institutional investors. The allocation scale of investment advisors surpasses the total of other institutions, indicating that professional wealth management is accelerating its integration. However, the $33.6 billion allocation scale of institutional investors, based on 13F filing data, only accounts for 25% of the total Bitcoin ETF shares. The remaining 75% of the shares are held by investors who do not require reporting, most of whom are retail investors.
