Abu Dhabi · Wall Street · Bitcoin · Bitcoin ETF · CryptoSlate
Bitcoin’s Q2 selloff split Wall Street as banks snapped up, hedge funds cut and sovereigns held
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Bitcoin fell 14.2% in the second quarter, while institutional Bitcoin ETF holdings rose 7.5% over the same period, climbing from 498,389 to 535,723 BTC equivalent.
Key facts
- Renaissance Technologies posted the sharpest percentage gain among recognizable managers, more than quadrupling its ordinary IBIT position to 1,403,942 shares from roughly 340,000, a 312.92% increase
- Macquarie's ordinary IBIT position fell a similar 61.78%, to 1,581,934 shares worth about $52.7 million
- Jane Street's reported IBIT position rebounded from 5,872,212 shares in the first quarter to 24,878,191 shares in the second, worth about $828.2 million at quarter's end
- Brevan Howard's ordinary IBIT position fell 70.36% during the quarter, from 24,304,788 shares to 7,205,004
Summary
01 Bitcoin fell 14.2% in Q2, but institutional Bitcoin ETF holdings rose 7.5% to 535,723 BTC equivalent even as filers fell. 02 The gains were driven by banks and quants, while sovereign wealth and endowments mostly held steady, highlighting sticky versus tactical demand. 03 The 13F filings blur conviction and market-making, so the next drawdown will show how much of Q2 was inventory, not demand. Those figures are Bitcoin Strategy's second-quarter estimate, built from public 13F filings the SEC collects but does not itself aggregate this way.