According to K33 Research, as of the end of the first quarter, a total of 937 asset management giants in the United States have invested in Bitcoin spot ETFs, with a total position of 11.06 billion US dollars, accounting for 18.7% of the total assets under management of BTC ETFs.
GBTC is the most favored product among these institutions, with an amount of 4.38 billion US dollars, followed by IBIT with 3.23 billion US dollars and FBTC with 2.1 billion US dollars.
In terms of institutional holdings in various ETFs, WisdomTree’s BTCW, VanEck’s HODL, and Ark Invest’s ARKB are the top three Bitcoin ETFs with institutional holdings, accounting for 39%, 26%, and 24% respectively.
On the other hand, the trading volume of Bitcoin spot ETFs is growing strongly. Research firm Santiment pointed out yesterday that the trading volume of the seven largest Bitcoin ETFs reached 5.65 billion US dollars, the highest daily performance since March 24. Santiment commented, “The days when whales only accumulated Bitcoin on-chain are long gone,” meaning that these institutions believe that whales are also buying Bitcoin spot ETFs.
Hedge fund manager Thomas Kralow commented, “The surge in trading activity is a very positive indicator for the market.”
In terms of fund flow, according to SoSo Value statistics, the latest net inflow of all spot ETFs is 257 million US dollars, of which GBTC has maintained a net inflow for two consecutive days. On the 16th, GBTC had a net inflow of 5 million US dollars worth of BTC, BlackRock’s IBIT had an inflow value of 94 million US dollars, and Fidelity’s FBTC had an inflow of 67 million US dollars.
According to statistics, a total of 10,458 BTC has flowed into spot ETFs this week, with a current value of approximately 683 million US dollars. Since its launch, spot ETFs have attracted over 12.4 billion US dollars in funds.
As for the future direction of Bitcoin prices, trading company QCP Capital emphasizes the “real adoption by institutions and sovereigns,” as well as the fact that Bitcoin is now out of its halving cycle. The institution pointed out that according to Binance spot market data, the Bitcoin price retested above $66,000 this afternoon, currently reporting $66,151, a slight increase of 0.01% in the past 24 hours, almost recovering from yesterday’s decline.