Professional investors' Bitcoin ETF exposure drops by 17% in the first quarter

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%.