Professional investors dumped 52K BTC worth of ETFs in Q1, filings show

Professional ownership of US spot Bitcoin ETFs declined sharply in Q1 as Bitcoin's bear market deepened. A new CoinShares report analyzing quarterly 13F filings found that professional investors reduced their Bitcoin ETF exposure to 261,000 BTC from 313,000 BTC in Q1, a 17% decline.

The combined value of those holdings fell 35% to $17.8 billion, while the share of total US Bitcoin ETF assets held by 13F filers declined to 20.8% from 24.7%.

The selling was heavily concentrated among hedge funds and brokerages, which accounted for 96% of the reduction. Hedge funds cut holdings by 31,400 BTC (39%), while brokerages reduced by 18,800 BTC (53%). Investment advisers reduced by just 5.9%, and banks more than doubled their Bitcoin ETF holdings, adding 7,800 BTC.

The decline in professional ownership coincided with Bitcoin falling 22% during Q1. Despite the volatility, CoinShares noted regulatory progress including SEC and CFTC efforts to clarify oversight, and the SEC making digital assets a strategic priority through 2030. Market participants remain focused on the CLARITY Act.