According to Eric Balchunas, a senior ETF analyst at Bloomberg, the Bitcoin spot ETF is on track for unprecedented institutional adoption. In a recent social media post, Balchunas noted that the ETF has already attracted over 1,000 institutional holders within just two quarters of its listing.
Balchunas highlighted the iShares Bitcoin Trust (IBIT) as a prime example of this trend, with 661 institutional holders and 20% of its shares held by institutions and large advisors. He further estimates that institutional ownership of IBIT could reach 40% within the next 12 months.
This rapid institutional uptake, Balchunas suggests, is “very bizarre,” underscoring the growing mainstream acceptance of Bitcoin as an investment asset.
The data cited by Balchunas is derived from 13F filings, quarterly reports that certain institutional investors are required to submit to the U.S. Securities and Exchange Commission (SEC). These filings provide a snapshot of the investment holdings of large institutions, including hedge funds, pension funds, and other investment management companies.
