Investment Advisers Dominate Spot Bitcoin ETF Holdings Amid Increasing Demand for Ether ETFs

Investment Advisers Lead Institutional Holdings in Crypto ETFs as Ether Demand Grows

Recent 13F filings reveal that investment advisers have become the dominant institutional holders of U.S. spot crypto exchange-traded funds (ETFs), with significant exposure to Bitcoin and increasing interest in Ether.

According to the latest SEC data, investment advisers currently hold over $10.28 billion in spot Bitcoin ETF assets, equivalent to approximately 124,753 BTC. This represents nearly half of the total crypto ETF assets reported across institutional funds. Hedge fund managers follow, holding about $6.9 billion in Bitcoin ETFs, or nearly 83,934 BTC, while brokerages and holding companies hold smaller shares.

Bloomberg ETF analyst Eric Balchunas emphasized this trend, noting that investment advisers have surged ahead to become the largest holders—”number one by a mile.”

Balchunas estimates that 13F filers now account for roughly 20% of all spot Bitcoin ETF assets, with expectations that this figure could grow to 35%–40% as traditional finance increasingly embraces crypto investment products.

A similar pattern is emerging in Ether ETFs. Investment advisers lead with approximately $582 million in exposure, representing 320,089 ETH, while hedge funds hold about $244 million, or 134,469 ETH, according to Bloomberg ETF analyst James Seyffart.

Total institutional exposure to Ether ETFs now exceeds $1.06 billion, or 587,348 ETH. Although smaller than Bitcoin’s institutional footprint, this growing presence highlights rising interest in diversified crypto portfolios.