According to ChainCatcher, Bitwise data shows that about 66% of institutional investors held or increased their holdings of Bitcoin through US spot exchange-traded funds in the second quarter. According to the 13F documents submitted to the US Securities and Exchange Commission, 44% of asset managers increased their Bitcoin ETF positions in the second quarter, while 22% of asset managers remained stable. Only 21% reduced their positions and 13% withdrew. "This is a pretty good result, comparable to other ETFs," said Matt Hougan, chief investment officer of Bitwise.