44% of Institutional Investors Increase Bitcoin Exposure via Spot ETFs

IconCryptoNewsTerminal Staff15 Aug, 2024

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44% of Institutional Investors Increase Bitcoin Exposure via Spot ETFs

The recent surge in institutional adoption of Bitcoin (BTC) has continued unabated, with a significant proportion of investors increasing their exposure to the leading cryptocurrency through spot Exchange-Traded Funds (ETFs). According to Matt Hougan, Chief Investment Officer at Bitwise Asset Management and the issuer of the Bitcoin Spot ETF, nearly half of institutional investors surveyed increased their BTC holdings in Q2 of 2023. Hougan highlighted these findings on Twitter, emphasizing the resilience of institutional conviction in Bitcoin despite market volatility and price declines. The report revealed that 44% of institutions augmented their spot Bitcoin ETF holdings, while 22% maintained steady positions. Conversely, 21% scaled back their investments, and 13% exited entirely. This steady growth in institutional adoption bodes well for Bitcoin's long-term prospects, indicating that major investors are unfazed by short-term market fluctuations and remain confident in its underlying value.

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