Investments in exchange-traded funds (ETFs) for Bitcoin (BTC) are experiencing a significant surge, according to Vetle Lunde, a senior analyst at crypto intelligence platform K33 Research. Lunde revealed on social media platform X that in the first quarter, more professional firms invested in Bitcoin ETFs compared to gold ETFs in their initial quarter. As per the 13F reports, 937 professional firms invested in US spot ETFs by March 31, while gold ETFs had only 95 professional firms invested in their first quarter, according to Bitwise.
Lunde pointed out that retail investors constitute the majority of spot Bitcoin ETF holders, with a total investment of $47.96 billion, accounting for 81.3% of the assets under management. On the other hand, professional investors held $11.06 billion in exposure by the end of the first quarter, representing 18.7% of the BTC ETF assets under management. The largest ETFs, such as ARK 21Shares Bitcoin ETF (ARKB) and the VanEck Bitcoin Trust (HODL), have attracted the most institutional capital, with ARKB and HODL benefiting from ARK and VanEck’s allocation to these ETFs.
Major financial institutions have also been acquiring shares of Bitcoin ETFs. Morgan Stanley purchased 4.27 million shares of the Grayscale Bitcoin Trust (GBTC) worth $269.8 million, while JPMorgan holds approximately $760,000 in spot BTC ETFs on behalf of its clients. Wells Fargo disclosed that it holds 2,245 shares of GBTC worth $121,000 for its clients. Additionally, the state of Wisconsin recently revealed that it has substantial holdings in two Bitcoin trusts. The State of Wisconsin Investment Board holds nearly $163 million worth of Bitcoin ETFs with BlackRock’s iShares Bitcoin Trust (IBIT) and GBTC, as per the latest 13F filings.
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