According to recent data, institutional investors currently own about 20% of all spot Bitcoin (BTC) exchange-traded funds (ETFs) traded in the United States.
CryptoQuant CEO and Founder Ki Young Ju revealed that institutional investors held over 193,000 BTC via Bitcoin ETFs as of October 18, according to the latest 13F Form filings. .
He also revealed that approximately 1,179 institutions have invested in the U.S.-traded Spot Bitcoin ETF. The list includes $70 billion asset manager Millennium Management, $438 billion trading firm Jane Street, and $2.93 trillion investment bank Goldman Sachs.
IBIT leads in absolute volume
In absolute numbers, BlackRock's iShares Bitcoin Trust ETF (IBIT) has the most Bitcoin held by institutional investors, at over 71,000 BTC. However, the institutional adoption rate is below average at 18.38%.
Grayscale's GBTC recorded 44,707.89 BTC held by institutional investors, making 20.25% of shareholders the second largest amount held by institutional investors.
On the other hand, ARK 21Shares’ ARKB has the highest participation of institutional investors, with 32.8% of the shares held by asset management companies, which is equivalent to approximately 17,166 BTC.
The ETF with the least institutional participation is Grayscale's Bitcoin Mini Trust, with just 1.52% of the shares held by these investors, while the CoinShares Valkyrie ETF has the least absolute amount of Bitcoin. (BRRR), institutional investors purchased 451.26 BTC through this product.
3rd largest ETFFidelity's FBTC also The third option sought by institutional investors, which represents 24.14% of the holders, holds 44,623.23 BTC.
Bitcoin ETF and price correlation
A recent report from VanEck highlighted the strong correlation between Bitcoin ETF flows and the price of the cryptocurrency in recent months, primarily due to increased adoption by institutional investors.
The U.S.-traded Spot Bitcoin ETF surpassed the $21 billion mark in year-to-date flows on October 18, according to data from Pharcyde Investors.
VanEck said increased institutional interest could explain the 11% rise in the price of Bitcoin in October, reaching $67,478. The asset manager suggests that rising demand from institutional investors could further accelerate Bitcoin's upward momentum in the near future.
