Professional investors reduced their Bitcoin ETF exposure by 52,000 coins in the first quarter, a decrease of 17%.

CoinFeed reported on June 5th that, according to Cointelegraph, CoinShares' analysis of quarterly 13F filings revealed that professional investors reduced their Bitcoin ETF exposure from 313,000 BTC to 261,000 BTC in the first quarter, a decrease of 52,000 BTC, or 17%. The total value of these holdings decreased by 35% to $17.8 billion, while the share of U.S. Bitcoin ETF assets held by 13F filers fell from 24.7% to 20.8%. The sell-off was primarily concentrated in hedge funds and brokerages, which accounted for approximately 96% of the total reduction. Hedge funds reduced their holdings by 31,400 BTC (a 39% decrease), and brokerages reduced their holdings by 18,800 BTC (a 53% decrease). In contrast, the largest category of professional investors—investment advisors (holding 150,300 BTC)—reduced their holdings by only 5.9%.