US Spot Bitcoin ETF Ownership Shifts as Hedge Funds Sell and Banks Buy
US spot Bitcoin ETF ownership changed during the recent market downturn, with hedge funds reducing exposure while banks and long-term allocators continued to add. Filings showed significant selling by professional investors in the first quarter.
US spot Bitcoin ETF ownership shifted during the market downturn, according to filings reviewed by CoinShares. Hedge funds reportedly exited positions, while banks and longer-term allocators continued building exposure to the funds.
The change suggests that professional investors approached the pullback differently. Some reduced their holdings, while others used the period to increase their allocations to spot Bitcoin ETFs.
The filings showed that professional investors dumped 52,000 BTC worth of ETF exposure in the first quarter. At the same time, banks were among the groups that continued buying, helping offset some of the selling pressure.
The data highlights how ownership in the US spot Bitcoin ETF market can move between investor groups during periods of volatility. Rather than a uniform response, the market saw a split between faster-moving hedge funds and longer-term holders.