Bitcoin ETF Exposure Shifts as Hedge Funds and Banks Pull Back
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Galaxy Research found that nine hedge funds and banks reduced spot Bitcoin ETF exposure equivalent to 68,000 BTC, while wealth platforms and sovereign funds added exposure.
Nine hedge funds and banks cut their exposure to spot Bitcoin exchange-traded funds by an amount equivalent to 68,000 BTC, according to Galaxy Research findings reported by Decrypt.
The reductions came as the cash-and-carry trade lost its appeal. That strategy seeks to capture the price difference between Bitcoin spot exposure and futures, rather than relying on Bitcoin prices rising.
Wealth platforms and sovereign funds moved in the opposite direction, adding exposure. The findings point to a shift in participation across investor groups, though they do not establish whether those additions offset the reductions.
Source: Decrypt
