Institutional investors prefer large-cap ETFs such as ARKB and HODL.
Data provided by Vetle Lunde, a senior analyst at K33 Research, shows that 937 professional companies in the United States have disclosed investments in spot Bitcoin ETFs in their 13F filings.
In stark contrast, only 95 professional firms invested in gold ETFs during the same period, according to Bitwise data.
While retail investors still hold the majority of outstanding shares, professional investors invested more than $11 billion in Bitcoin ETFs by the end of the quarter, accounting for 18.7% of the total assets under management (AUM) of Bitcoin ETFs.
This trend reflects that large ETFs are more attractive to institutional investors. In particular, ARKB and HODL ETFs have gained more support from institutional investors, thanks in part to large investments from well-known institutions such as ARK and VanEck.
Professional firms such as JPMorgan, UBS, and Wells Fargo have stakes in Bitcoin ETFs. Even the Wisconsin Investment Board disclosed that it held more than $99 million in BlackRock IBIT at the end of the first quarter.
However, Bloomberg ETF analyst James Seyffart noted that the 13F forms only reflect the institutions’ holdings as of March 31 and do not include short positions and derivatives.
As U.S. inflation data came in line with expectations, investors have turned their attention back to ETFs. According to X user Lookonchain, nine ETFs increased their holdings by 3,893 BTC, worth nearly $256 million.
Grayscale’s GBTC saw an outflow of 839 BTC, while Fidelity increased its holdings by 1,989 BTC. BlackRock’s IBIT is gradually closing the gap with GBTC, and its 274,755 BTC under management puts its holdings only about 14,000 BTC less than GBTC.
Conclusion:
Data from K33 Research reveals that Bitcoin ETFs have significantly attracted widespread interest from professional investment firms in the first quarter of 2023, reflecting the increasing recognition and participation of institutional investors in the cryptocurrency market. While retail investors still dominate the market, the large inflows from professional investors indicate that Bitcoin ETFs are gaining more attention as an asset class.
In particular, the institutional support received by ARKB and HODL ETFs, as well as the participation of well-known financial institutions such as JPMorgan Chase, UBS and Wells Fargo, further highlights the appeal of large ETFs in the market. Although the 13F form only provides a snapshot of holdings as of March 31 and does not cover all investment types, the development of this trend deserves continued attention from market participants.
It is believed that as the inflation data in the United States stabilizes, ETFs may continue to be favored by investors as part of a diversified investment portfolio. At the same time, the competition between Grayscale's GBTC and BlackRock's IBIT, as well as the active participation of companies such as Fidelity, indicate that the Bitcoin ETF market will further develop and mature. #比特币ETF #投资公司
