In the last quarter, institutional investors divested significant portions of their shares in Bitcoin-based exchange-traded funds (ETFs), equating to approximately 25,000 BTC. This information was highlighted by analyst James Seyffart from Bloomberg.
Hedge funds and investment advisors emerged as the primary sellers, with Brevan Howard leading the charge by selling over 17,000 BTC worth of shares. This wave of selling coincided with a downturn in the cryptocurrency market, which saw Bitcoin's value drop from a peak of over $120,000 to below $63,000.
Despite the substantial sell-off during Q4, there was a notable resurgence in investor interest, as evidenced by net inflows into spot Bitcoin ETFs on February 24, which reached $257.71 million. Among these, Fidelity's FBTC fund stood out, attracting $82.8 million.
