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In the second quarter of 2025, investment consultants promoted the scale of their holdings in Bitcoin to US$33.6 billion through ETFs.
Data shared by Bloomberg ETF analyst James Seyffart on August 25 showed that among all tracking categories, institutions added a total of 57,375 new BTC positions.
According to Bloomberg Intelligence data, investment advisors currently hold $17.4 billion in Bitcoin ETFs, almost twice the $9 billion in holdings of hedge fund managers.
Among new institutional investors, Brevan Howard Capital Management becomes the largest institutional shareholder of Bitcoin ETF.As of June 30, the fund management company increased its share of BlackRock iShares Bitcoin Trust (IBIT) by 71% to 37.5 million shares, with a market value of US$2.3 billion.
Harvard Management entered the Bitcoin ETF field with $117 million in IBIT holdings.Harvard’s Bitcoin allocation scale is equivalent to its heavily held U.S. stocks, including $310 million Microsoft and nearly $235 million Amazon, accounting for about 8% of its applied portfolio.
The university endowment fund currently holds a market value of Bitcoin that exceeds the gold market value, with its SPDR Gold Trust (Gold ETF) holdings at the end of the quarter worth approximately $102 million.
Seyffart also emphasized thatInvestment Advisors Have Been Become the “Bitcoin Spot ETF”.In the second quarter, investment consultants added 37,156 new BTC positions, with a total holding of 161,909 BTC.
He said that among the 15 institutional categories listed, holdings in “almost all categories” increased in the second quarter, with pension funds only maintaining their $10.7 million holdings unchanged.
The allocation scale of securities companies through Bitcoin ETFs reached US$4.3 billion, ranking second among the new institutional holdings, with a total of 13,911 new BTC.Banks rank third with new positions of 2,476 BTC, and currently holds Bitcoin through ETF shares with a market value of approximately US$655 million.
The investment consultant’s holdings of US$17.4 billion exceed the total holdings of hedge funds, securities firms and holding companies, which marks the gradual integration of Bitcoin into a professional wealth management system.
Seyffart pointed out that the US$33.6 billion holdings of institutional investors come from Form 13F declarations, accounting for only 25% of the total share of Bitcoin ETFs.
He added: “The remaining 75% of the shares are held by undeclared entities, which are mainly retail investors.”
Despite growing institutional interest in crypto assets, most of the money flows of Bitcoin ETFs are driven by retail investors.
