According to Cointelegraph, CoinShares analyzed quarterly 13F documents and found that professional investors reduced their Bitcoin ETF holdings from 313000 BTC to 261000 BTC in the first quarter, a decrease of 52000 BTC or 17%. The total value of holdings decreased by 35% to $17.8 billion, and the asset share of the US Bitcoin ETF decreased from 24.7% to 20.8%. Hedge funds and securities firms reduced their holdings by 96% of the total scale, reducing their holdings by 31400 BTC (a decrease of 39%) and 18800 BTC (a decrease of 53%), respectively. The investment advisor holds 150300 BTC, only reducing their holdings by 5.9%.