PANews reported on August 17 that according to Cointelegraph, the cryptocurrency exchange Coinbase reported that in the second quarter of 2024, the proportion of institutional holders labeled as "investment advisors" rose by 3%, currently accounting for 9% of total institutional investments, while hedge fund holdings fell slightly. However, Coinbase pointed out that due to the impact of the US summer (June to August), a large amount of capital inflows may be delayed, which may prevent financial advisors from immediately attracting new customers. At the same time, the decline in hedge fund managers' holdings may be due to the use of price differences between spot Bitcoin ETFs and Bitcoin futures contracts. Coinbase pointed out that Chicago Mercantile Exchange (CME) Bitcoin futures contracts increased by 15% in the second quarter of 2024 to US$2.75 billion.