**Institutional Investors Embrace Bitcoin ETFs Despite Market Dip**

In the second quarter of 2024, around 66% of institutional investors either held or increased their Bitcoin holdings via U.S.-based spot exchange-traded funds (ETFs), according to Bitwise. SEC filings revealed that:

- 44% of asset managers boosted their Bitcoin ETF positions.

- 22% maintained their positions.

- Only 21% reduced their stakes, and 13% exited.

Despite a 14.5% drop in Bitcoin's value, institutional interest remained strong. Bitwise's Matt Hougan noted a 30% rise in holder/ETF pairs, indicating steady confidence among big players like Millennium and Goldman Sachs. Morgan Stanley reported a significant $188M in BlackRock’s Bitcoin ETF holdings.