This metric provides a conservative estimate of institutional Bitcoin ETF holdings, based on SEC Form 13F filings. It includes only institutional investment managers with >$100M AUM and excludes smaller funds, private institutions, and other entities not required to report. Institutions are obligated to report within 45 days after the quarter ends, meaning the holdings displayed in light green are still awaiting confirmation and are subject to change. These figures are likely to increase as institutions add to their positions, additional filings are submitted, and new institutional entries may appear.

The above chart compares Institutional vs. Total ETF Bitcoin holdings, where the latter primarily consists of retail investors but may also include smaller institutional funds that do not meet SEC 13F reporting requirements. Institutional holdings are a conservative estimate, reflecting only institutions managing over $100M in 13F securities, while excluding smaller funds, private institutions, and other entities not required to disclose their positions. The red line, plotted on the right y-axis, represents the estimated percentage of total ETF holdings that are institutional.

---

Unlock the full set of institutional charts, including the largest Bitcoin ETF holders, portfolio allocation, and the total number of reporting institutions. Become a Paid Subscriber on Substack and get FULL ACCESS to the Bitcoin Strategy Platform.