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Investment Advisers Become Top Holders of Spot Bitcoin ETFs, Ether ETF Demand Rises

13F filings show investment advisers dominate institutional crypto ETF exposure, with growing interest in ether alongside Bitcoin.

Updated Jun 5, 2025, 3:16 p.m. Published Jun 5, 2025, 10:24 a.m.
Exchange-traded fund (viarami/Pixabay)
Exchange-traded fund (viarami/Pixabay)

What to know:

  • Investment advisers now hold over $10.28B in spot bitcoin ETFs nearly half of total institutional assets suggesting accelerating mainstream adoption.
  • Ether ETF exposure tops $1B, with advisers and hedge funds leading allocations, highlighting a widening institutional appetite beyond bitcoin.

There is a strong institutional presence in U.S. spot crypto exchange-traded funds (ETFs), with investment advisers taking a commanding lead, according to the recent SEC filings.

Investment advisers now hold over $10.28 billion in spot bitcoin ETF assets, representing 124,753 BTC. Investment advisers hold nearly half of the total crypto assets declared by the various funds. Hedge fund managers are second, holding $6.9 billion worth of BTC ETF, or nearly 83,934 BTC, followed by brokerages and holding companies.

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These figures, highlighted by Bloomberg ETF analyst Eric Balchunas, underscore how advisers have surged to the top "number one by a mile."

Balchunas estimates that 13F filers currently make up about 20% of total spot Bitcoin ETF assets, a number likely to grow to 35%–40% as traditional finance embraces the product.

There is a similar trend with ether . Advisers lead with $582 million in exposure, representing 320,089 ETH, while hedge funds hold $244 million, or 134,469 ETH, according to Bloomberg ETF analyst James Seyffart.

The total institutional ETH ETF exposure now stands at over $1.06 billion, or 587,348 ETH. Though smaller than bitcoin’s footprint, it signals rising interest in diversified crypto exposure.

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