Institutional traders held 25.4% of the belongings below 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 full quantity jumped 69% to $78.8 billion on the finish of the fourth quarter.
Based on Lunde, the variety of traders uncovered to Bitcoin by way of 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 knowledge 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 by way of hares on the finish of the primary quarter. A lot of the development was recorded between the third and fourth quarters.
Lately, Mubadala Funding Firm, one in every of Abu Dhabi’s largest sovereign wealth funds, reported practically $437 million in Bitcoin publicity by IBIT on the finish of the fourth quarter.
Moreover, the State of Wisconsin Funding Board (SWIB) elevated 110% of its BTC funding by way of IBIT in the identical interval, surpassing $321 million. SWIB realized the shares from different Bitcoin ETFs, corresponding to Grayscale’s GBTC, and as of Dec. 31, solely held publicity by BlackRock’s IBIT.
Constancy’s FBTC additionally expanded significantly, practically 100% quarterly. Nonetheless, the full AUM of institutional holdings remains to be round $5 billion.
Based on Daring Report knowledge, BlackRock’s spot Bitcoin ETF has practically $56.4 billion in AUM, whereas the full AUM of all different US-traded spot Bitcoin ETFs mixed is $56.9 billion.
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Gino Matos
Gino Matos is a legislation faculty graduate and a seasoned journalist with six years of expertise within the crypto trade. His experience primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).
