Institutional traders held 25.4% of the belongings underneath 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 share of Bitcoin ETF AUM held by establishments grew 113% between the third and fourth quarters of 2024.
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 keeping with Lunde, the variety of traders uncovered to Bitcoin through 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 information 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 through hares on the finish of the primary quarter. Many of the progress was recorded between the third and fourth quarters.
Just lately, Mubadala Funding Firm, one among Abu Dhabi’s largest sovereign wealth funds, reported practically $437 million in Bitcoin publicity by way of IBIT on the finish of the fourth quarter.
Moreover, the State of Wisconsin Funding Board (SWIB) elevated 110% of its BTC funding through IBIT in the identical interval, surpassing $321 million. SWIB realized the shares from different Bitcoin ETFs, resembling Grayscale’s GBTC, and as of Dec. 31, solely held publicity by way of BlackRock’s IBIT.
Constancy’s FBTC additionally expanded significantly, practically 100% quarterly. Nonetheless, the entire AUM of institutional holdings continues to be round $5 billion.
In keeping with Daring Report information, BlackRock’s spot Bitcoin ETF has practically $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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Gino Matos
Gino Matos is a regulation college graduate and a seasoned journalist with six years of expertise within the crypto business. His experience primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).
