Bitwise: Institutional Bitcoin ETF Ownership Grew 14% in Q2

The number of institutional investors owning spot Bitcoin ETFs increased by 14% in Q2 2024, CoinDesk reported, citing a report from Bitwise.

In addition, the share of these investors in total assets under management (AUM) also increased, from 18.74% to 21.15%. Bitwise added that at the end of Q2, institutions held $11 billion in ETFs.

Bitwise Chief Investment Officer Matt Hougan said that if institutions are buying Bitcoin when prices are volatile, it’s a great sign, “imagine what could happen in a bull market.”

The report also notes that Bitcoin ETFs have been adopted by institutions “at the fastest rate of any ETF in history.” CryptoQuant analysts said demand for Bitcoin has been declining since April 2024, approaching negative levels in recent weeks. They explained that this was due to a decline in Bitcoin ETF purchases in the US.