- Institutional investors now hold approximately 20% of all US-traded spot Bitcoin ETFs according to recent data.
- BlackRock’s iShares Bitcoin Trust ETF (IBIT) has the most Bitcoins held by institutions with over 71,000 BTC, while ARK 21Shares’ ARKB had the highest institutional participation at 32.8%.
- A recent VanEck report highlighted a stronger correlation between Bitcoin ETF flows and the cryptocurrency’s price in recent months, driven largely by increasing institutional adoption.
A recent analysis of SEC filings reveals that institutional investors now hold around 20% of all US-traded spot Bitcoin exchange-traded funds (ETFs). The data highlights the growing institutional adoption of Bitcoin ETFs since their introduction earlier this year.
Institutions Hold Over 193,000 BTC via Bitcoin ETFs
CryptoQuant CEO Ki Young Ju revealed that the latest 13F Form filings show that institutional investors hold over 193,000 BTC via Bitcoin ETFs as of October 18. He also revealed that roughly 1,179 institutions have invested in US-traded spot Bitcoin ETFs. The list includes $70 billion asset manager Millennium Management, $438 billion trading firm Jane Street, and $293 trillion investment bank Goldman Sachs.
Leading Bitcoin ETFs by Institutional Ownership
In absolute numbers, BlackRock’s iShares Bitcoin Trust ETF (IBIT) has the most Bitcoins held by institutions with over 71,000 BTC. However, its institutional adoption percentage of 18.38% is below average. Grayscale’s GBTC registered 4,470,789 BTC held by institutional investors, the second-largest amount with 20.25% of its shareholders being institutional investors.
Meanwhile, ARK 21Shares’ ARKB had the highest institutional participation with 32.8% of its shares owned by asset managers, equating to roughly 17,166 BTC. The ETF with the least institutional participation is Grayscale’s Bitcoin Mini Trust, with just 1.52% of its shares held by these investors. While CoinShares’ Valkyrie ETF (BRRR) shows the smallest absolute amount in Bitcoins with 45,126 BTC bought by institutions through the product.
The third-largest ETF, Fidelity’s FBTC, is also the third option sought by institutional investors, with 446,232 BTC held by institutional investors which make up 24.14% of its holders.
voi.id
Growing Correlation Between Bitcoin ETF Flows and BTC Price
A recent VanEck report highlighted a stronger correlation between Bitcoin ETF flows and the cryptocurrency’s price in recent months, driven largely by increasing institutional adoption. Spot Bitcoin ETFs traded in the US broke the $21 billion threshold in year-to-date flows on October 18, according to Farside Investors data.
According to VanEck, the surge in institutional interest may explain Bitcoin’s 11% price increase in October, reaching $67,478. The asset manager suggests that growing demand from institutions could continue to fuel Bitcoin’s upward momentum in the near future.
Conclusion
The data reveals the rapidly increasing institutional adoption of Bitcoin ETFs since their introduction this year. Leading ETFs now hold over 190,000 BTC purchased by institutional investors. With the correlation between ETF flows and Bitcoin’s price strengthening, ongoing institutional interest could be a bullish signal for the cryptocurrency’s price outlook.
