Goldman Sachs and Another Top Funds Lead $1.3B Bitcoin ETF Surge in Q2, Reports CoinShares

Goldman Sachs, Capula Management, and Avenir Tech emerged as the top buyers of Bitcoin ETFs in Q2 2024, collectively investing nearly $1.3 billion, according to CoinShares Research.

Bitcoin ETFs, launched in January, have seen explosive growth, with over $15 billion in inflows driven by major financial institutions like Morgan Stanley. Grayscale's Dave LaValle highlighted this massive adoption, calling it unprecedented in the ETF market.

Capula led the way with $470 million in BTC ETF shares, followed by Goldman Sachs with $419 million and Avenir with $388 million. Other notable buyers included Galacia Asset Management and DE Shaw.

Interestingly, nearly half of Avenir's portfolio now consists of BTC funds, while crypto-native hedge fund Digital Currency Group sold $732 million in shares. Hedge funds hold the largest Bitcoin allocations, averaging 2.2%, while adoption remains low among banks and pension funds.

Experts predict that as established wealth managers continue adopting cryptocurrency ETFs, even conservative institutions like pension funds will increase their allocations over time.

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