Bitcoin ETF Holdings Fall 23% in Q1 2025 as Institutional Demand Wanes

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New data reveals the first quarterly decline in institutional Bitcoin ETF holdings since their US launch. CoinShares reports a drop from $27.4 billion in Q4 2024 to $21.2 billion in Q1 2025—a 23% decrease.

While Bitcoin’s 11% price dip contributed to the decline, SEC filings suggest some investors also reduced positions. Financial advisers were an exception, slightly increasing exposure.

The trend reflects a broader shift: corporations are now driving Bitcoin adoption for treasury reserves, while institutional ETF demand softens. BlackRock’s IBIT recently recorded its largest single-day outflow ($430M) after a month of steady inflows.