The post Bitwise CIO Reveals 3 Super Bullish Signals From Bitcoin ETFs appeared on BitcoinEthereumNews.com.

Despite the muted performance of Bitcoin in recent months, the 13-F filings for the spot exchange-traded funds (ETFs) paint a bullish picture for the BTC price. Bitwise Chief Investment Officer (CIO) Matt Hougan has shared a recap of the three most interesting takeaways from the Q2 filings via X. His findings underscore a growing and sustained institutional interest in Bitcoin, pointing towards an bullish outlook. #1 Increased Institutional Bitcoin Adoption Hougan highlights an impressive rise in institutional engagement with Bitcoin ETFs during the second quarter of the year. He reported, “I count 1,924 holder<>ETF pairs across all 10 ETFs, up from 1,479 in Q1. That’s a 30% increase; not bad considering prices fell in Q2.” This data suggests that institutional investors are increasingly viewing Bitcoin as a viable asset class, even amidst price declines, indicating a long-term commitment rather than speculative short-term plays. Related Reading Hougan concludes, “Of course, this does not mean 1,924 institutions own bitcoin ETFs; some investors report positions in multiple ETFs. But that “double-counting” aspect is equally true of the Q1 and Q2 numbers, so the percentage increase is still telling. My takeaway: Institutional investors continued to adopt bitcoin ETFs in Q2. The trend is intact.” #2 Institutional Investors Are HODLers The holding patterns within these filings reveal that a substantial portion of institutional investors remained committed to their Bitcoin ETF holdings, reflecting a resilient stance against the market’s volatility. “Among Q1 filers, 44% increased their position in bitcoin ETFs in Q2, 22% held steady, 21% decreased their position, and 13% exited,” said Hougan. These figures are particularly telling because they demonstrate that more than two-thirds of the institutions either maintained or increased their exposure to Bitcoin ETFs during a period of significant price fluctuations. Hougan interprets this data as a sign that institutional investors possess…

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Filed under: News - @ August 15, 2024 8:17 pm