Investment advisors of high-net-worth individuals are the biggest buyers of BTC and ETH ETFs, according to Bloomberg analysts.
Clients of professional investment advisors account for approximately 10% of the roughly $100 billion invested in spot Bitcoin Exchange-Traded Funds (ETFs).
With almost $10.3 billion invested, they are far and away the biggest category of institutional buyers of spot Bitcoin ETFs. Next come hedge fund managers with $6.9 billion, followed by brokerages with $2.1 billion. Holding companies are fourth with $596 million, and governments round out the top five at $408.5 million. Together, the list of 14 types of institutional investors accounts for $21 billion.
The findings were published by Bloomberg’s Senior ETF Analyst Eric Balchunas, who noted in an X post that “advisor has surged up the list now #1 by a mile.”
He added that he expected the percentage of ETF funds from institutional clients to double to 35% to 40% as adoption picks up further steam.
The list was compiled by reviewing Securities and Exchange Commission (SEC) Form 13Fs.
The data indicates that many high-net-worth (HNW) individuals are adding Bitcoin exposure to their portfolios. Which in turn means that Bitcoin is becoming a more widely appreciated investment asset, and not just something for true believers.
At the same time, that $2.1 billion from brokerages means a lot more retail investors are also buying into the Bitcoin narrative.
Of course, the same can’t be said for the apparently more conservative family offices and trusts of ultra-HNW families, which together account for just $21 million
ETH ETFs
James Seyffart, another Bloomberg ETF analyst, published a similar list looking at institutional investors in spot Ether ETFs.
And it paints much the same picture on a smaller scale. Wealthy individuals’ investment advisors are the largest buyers, with $582 million, followed by hedge fund managers at $247 million and brokerages at $159 million.
