CoinShares: Institutional Bitcoin ETF Holdings See First Quarterly Decline in Value in Q1 2025

The CoinShares report shows that institutional investors' exposure to Bitcoin in the first quarter of 2025 decreased to $21.2 billion from $27.4 billion in the fourth quarter of 2024, a decline of 23%, marking the first quarterly drop since the launch of the US spot ETF. The report analyzes that this trend is a result of a combination of Bitcoin price decline and active selling. It also points out that the previous quarter's market was mainly driven by companies adopting Bitcoin as treasury and reserve assets, rather than professional fund managers purchasing ETFs, reflecting a shift in investment strategy from short-term profit to long-term savings.