Investment Advisers Lead Institutional Holdings in Crypto ETFs, Ether Demand on the Rise

Recent 13F filings reveal that investment advisers have emerged as the dominant institutional holders of U.S. spot crypto exchange-traded funds (ETFs), showing strong preference for Bitcoin while also increasing exposure to Ether.

Investment advisers currently control over $10.28 billion in spot Bitcoin ETF assets, equivalent to approximately 124,753 BTC. This represents nearly half of all crypto ETF assets reported by various institutional funds. Hedge fund managers rank second, holding about $6.9 billion in Bitcoin ETFs (around 83,934 BTC), followed by brokerages and holding companies.

Bloomberg ETF analyst Eric Balchunas highlights this trend, noting that investment advisers have become the clear leaders, or “number one by a mile,” in institutional crypto ETF ownership.

Balchunas estimates that 13F filers currently represent roughly 20% of total spot Bitcoin ETF assets—a figure expected to rise to between 35% and 40% as traditional financial institutions increasingly adopt crypto investment products.

A similar pattern is developing in the Ether ETF space. Investment advisers lead with approximately $582 million in Ether ETF exposure, representing 320,089 ETH, while hedge funds hold $244 million, or 134,469 ETH, according to Bloomberg ETF analyst James Seyffart.

Total institutional Ether ETF holdings now exceed $1.06 billion, or 587,348 ETH. Though smaller than Bitcoin’s institutional footprint, this growing presence reflects rising interest in diversified crypto portfolios.