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Bloomberg’s senior ETF analyst Eric Balchunas highlighted on social media that spot Bitcoin 
$105,294 ETFs attracted the interest of over a thousand institutional investors in just two 13F reporting periods. This detail emphasized by Balchunas regarding spot ETFs is extremely important for Bitcoin’s institutional adoption.
BlackRock’s IBIT Leads with 661 Institutional Investors
Balchunas reported that BlackRock’s iShares Bitcoin Trust (IBIT), the world’s largest asset management company, alone has 661 institutional investors, with 20% of its shares held by institutional investors and major advisors.
The ETF analyst predicted that this number could reach 40% within the next 12 months, highlighting the rapid growth and strong institutional interest in spot Bitcoin ETFs.
The U.S. Securities and Exchange Commission (SEC) mandates the 13F report, which requires investment management companies with over $100 million in managed assets, including hedge funds, pension funds, and other large institutions, to disclose their assets quarterly. This reporting framework is closely monitored by cryptocurrency market participants as it provides insights into increasing institutional participation in Bitcoin through ETFs.
The rise in institutional adoption of spot Bitcoin ETFs is extremely valuable as it indicates that cryptocurrencies are increasingly accepted in the traditional financial world. Analysts expect that as more institutional investors enter the market, demand and confidence in Bitcoin as an investment vehicle will continue to grow, and the price will eventually rise with this participation.
Current Status of Spot Bitcoin ETFs
According to SoSoValue’s data, spot Bitcoin ETFs closed the last trading day on September 6, 2024, with a net outflow of $169.97 million. Fidelity’s ETF FBTC took the lead with an outflow of $85.52 million, followed by Grayscale’s GBTC with a net outflow of $52.87 million. On the other hand, IBIT saw a trading day where outflows and inflows were balanced.
Currently, spot Bitcoin ETFs hold $48.24 billion worth of BTC, which corresponds to 4.62% of Bitcoin’s market value.
