Bitcoin Institutional Holdings Surge Despite Bear Market
The price of Bitcoin fell by 14% in Q2, but institutional holdings increased by 7.5%, according to data from SEC 13F filings.
This indicates that smart money has been accumulating at the bottom, treating the current price as an entry point.
Wells Fargo and JPMorgan each added over 10,000 BTC in a single quarter, while the Abu Dhabi sovereign wealth fund also increased its position.
The number of institutions reporting Bitcoin holdings via 13F filings fell from approximately 2,000 in Q1 to nearly 1,900 in Q2, a decline of 6.8%.