Professional Investors Cut Bitcoin ETF Holdings by 52,000 BTC in Q1, Down 17%

According to CoinShares analysis of 13F filings, professional investors reduced their Bitcoin ETF exposure in the first quarter from 313,000 BTC to 261,000 BTC, a decrease of 52,000 BTC or 17%. The total value of these holdings fell 35% to $17.8 billion, while the share of U.S. Bitcoin ETF assets held by 13F filers dropped from 24.7% to 20.8%.

Hedge funds and brokers accounted for 96% of the reduction, cutting 31,400 BTC (down 39%) and 18,800 BTC (down 53%) respectively. Investment advisors, the largest category with 150,300 BTC in holdings, reduced positions by only 5.9%. CoinShares analyst Matt Kimmell noted the data reflects Bitcoin's historical performance during downturns, with "leverage and strategic positions being unwound."