Bitwise’s CIO Matt Hougan said that as corporate investors in Bitcoin (BTC), exchange-traded fund (ETFs), increase, institutions will follow.
Hougan, on social media platform X, says that the “institutions are still coming” and he has 1,924 ETF holders across the 10 Bitcoin ETFs trading currently on the stock exchange.
Hougan states that this is an increase of 30% from Q2 despite the falling price.
Says Hougan
This does not necessarily mean that 1,924 institutions hold Bitcoin ETFs. Some investors have reported holdings in more than one ETF. The Q1 and Q2 figures are also affected by this double counting, but the increase in percentage is still significant.
The trend is still intact. Institutional investors continue to buy bitcoin ETFs. This trend continues .”
According to the CIO, institutions that add exposure to BTC-ETFs are generally “diamond hand” investors or those who are extremely reluctant to sell coins.
The institutions have (mostly), diamond hands. Most institutional investors allocated shares in Q1 held them or purchased more this spring. In Q2, 44% of Q1 filers increased their Bitcoin ETF positions, while 22% remained the same, 21% reduced their position and 13% left. This is a good result that’s on par with ETFs.
The data suggests otherwise. The data shows that they are pretty stable .”
Hougan says that while hedge funds are still the biggest Bitcoin ETF investors, other types of investors can also get exposure to BTC through exchange traded funds.
There are also a number of family offices and institutional investors.
ETFs attract a variety of investors. In these ETF filings, it’s great to see Millennium nestled against the State of Wisconsin. In the future, I would like to see wealth management and pensions take a larger share of .”
Bitcoin currently trades for $58,579.
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The post Matt Hougan, Bitwise CIO Matt Hougan: Institutions are still coming to crypto and Bitcoin ETFs will be updated as new information becomes available.
