Institutional Investors Flood Bitcoin ETFs With $38.7 Billion in Q4, Marking a Threefold Surge

Institutional investors dramatically increased their Bitcoin ETF holdings in the fourth quarter of 2024, purchasing $38.7 billion worth of shares, according to filings with the Securities and Exchange Commission (SEC).

Despite Bitcoin’s price swings, major financial institutions—including pension funds and hedge funds—continued to expand their exposure. SEC 13F filings revealed that institutional investment in spot Bitcoin ETFs tripled from the previous quarter’s $12.4 billion, as noted by Bitwise CIO Matt Hougan.

The SEC mandates that investors managing over $100 million disclose their holdings quarterly, shedding light on how rapidly institutional adoption of Bitcoin ETFs is accelerating.

Since spot Bitcoin ETFs debuted in January 2024, institutional interest has grown steadily. The State of Wisconsin’s Investment Board increased its position to over 6 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) by the end of the year.

Similarly, billionaire hedge fund manager Paul Tudor Jones expanded his IBIT holdings from 4.4 million shares to more than 8 million, nearly doubling his position. Meanwhile, Corvex Management, a firm founded by Keith Meister, reported holding over 1 million shares in IBIT as of December 31.

According to Bloomberg Intelligence senior ETF analyst Eric Balchunas, IBIT now has 1,100 institutional holders, setting a record for a newly launched ETF.

“Typically, new ETFs attract fewer than 10 institutional holders early on,” Balchunas noted, adding that the previous first-year record for ETF adoption was likely around 350 institutional investors.