13F filings and public disclosures by ETF providers

Bitwise CIO: Bitcoin ETFs Adopted Faster Than Any ETF in History with $1.5B BlackRock Inflows

Sep 10, 2024, 05:20 AM

Bitwise CIO Matt Hougan has highlighted the rapid adoption of Bitcoin ETFs by investment advisors, stating that they are being adopted faster than any other exchange-traded fund in history. Hougan noted that Bitcoin ETFs collectively have over 1,000 institutional holders after just two 13F periods, with IBIT alone having 661 holders and 20% of its shares reported held by institutions and large advisors. This figure is expected to rise to 40% in the next 12 months. Eric Balchunas commented on the unprecedented nature of this adoption. Additionally, BlackRock’s Bitcoin ETF has seen nearly $1.5 billion in advisor inflows, making it one of 2024’s fastest-growing funds. Hougan's comments come amid discussions on the extent of institutional involvement in spot Bitcoin ETF inflows, with macro expert Jim Bianco noting that 85% of spot Bitcoin ETF inflows are institutional. Despite some market analysts referring to ETFs as “tourist tools,” the advisor adoption indicates otherwise.