Institutional investors reduced their Bitcoin ETF positions by 17% in Q1 2026.
In the first quarter of 2026, institutional investors filing 13F forms reduced their positions in US spot Bitcoin ETFs by 17%, according to a report by CoinShares.
The total assets under management by professional participants decreased from 313,000 BTC to 261,000 BTC. In monetary terms, the value of positions fell by 35% to $17.8 billion.
The share of 13F investors in the total volume of Bitcoin ETFs dropped from 24.7% to 20.8%.
Analysts noted that this trend coincided with a market correction: during the reporting period, the price of the leading cryptocurrency fell by 22%, reaching $68,000. In February, prices briefly dipped below $60,000, marking nearly a 50% drop from the all-time high of $126,000 recorded in October 2025.
The majority of sales were driven by hedge funds and brokerage firms, accounting for 96% of the net outflow. Hedge funds reduced their positions by 31,400 BTC (−39%), while brokerage firms cut back by 18,800 BTC (−53%). Notably, Jane Street reduced its holdings by 10,800 BTC, and Morgan Stanley completely closed its position of 8,300 BTC, which analysts linked to the launch of its own MSBT fund.
Investment advisors, remaining the largest group of holders (150,300 BTC), showed resilience, reducing positions by only 5.9%.
Bank positions increased by 7,800 BTC, exceeding 15,200 BTC:
- JPMorgan Chase added 3,000 BTC;
- Wells Fargo increased its position by 4,000 BTC;
- Citigroup disclosed ownership of 97 BTC for the first time.
“The data aligns with historical market behavior during downturns. Short-term leveraged strategies unwind, and supply redistributes from impulsive players to long-term holders: advisors, banks, and sovereign funds,” explained CoinShares analyst Matt Kimmell.
Among government entities, the Mubadala fund from Abu Dhabi stands out, having acquired 1,100 BTC. Meanwhile, endowments reduced investments by 40%, primarily due to Harvard University’s sale of 1,300 BTC.
As reported, from May 25 to 29, outflows from digital asset-based investment products amounted to $1.67 billion.
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