Institutional traders held 25.4% of the belongings beneath administration (AUM) of spot Bitcoin (BTC) exchange-traded funds (ETFs) as of Dec. 31 — totaling $26.8 billion.
K33 Analysis head of analysis Vetle Lunde shared that the proportion of Bitcoin ETF AUM held by establishments grew 113% between the third and fourth quarters of 2024.Â
Moreover, the AUM ratio held by establishments elevated by 4.1% quarterly, as the entire quantity jumped 69% to $78.8 billion on the finish of the fourth quarter.
In response to Lunde, the variety of traders uncovered to Bitcoin by way of ETFs reached 1,576 within the final quarter, a 37.4% quarterly leap. In the meantime, the yearly leap was 68.2%.
IBIT dominance
Lunde’s knowledge additionally revealed that institutional curiosity in BlackRock’s IBIT grew over 4x in 2024.
Establishments reported $16 billion in IBIT shares on the finish of the fourth quarter of final yr, in comparison with lower than $4 billion by way of hares on the finish of the primary quarter. Many of the development was recorded between the third and fourth quarters.
Lately, Mubadala Funding Firm, one in every of Abu Dhabi’s largest sovereign wealth funds, reported almost $437 million in Bitcoin publicity via IBIT on the finish of the fourth quarter.Â
Moreover, the State of Wisconsin Funding Board (SWIB) elevated 110% of its BTC funding by way of IBIT in the identical interval, surpassing $321 million. SWIB realized the shares from different Bitcoin ETFs, equivalent to Grayscale’s GBTC, and as of Dec. 31, solely held publicity via BlackRock’s IBIT.
Constancy’s FBTC additionally expanded significantly, almost 100% quarterly. Nonetheless, the entire AUM of institutional holdings remains to be round $5 billion.
In response to Daring Report knowledge, BlackRock’s spot Bitcoin ETF has almost $56.4 billion in AUM, whereas the entire AUM of all different US-traded spot Bitcoin ETFs mixed is $56.9 billion.
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