Bitcoin’s (BTC) drawdown hasn’t shaken institutional investors yet, says CoinShares
CoinShares reports that institutional investors largely held their positions during Bitcoin's recent drawdown, with long-term allocators even adding to holdings.Summary
According to a report by crypto asset manager CoinShares, the initial phase of Bitcoin's recent drawdown did not cause panic among institutional investors. Professional allocators slightly reduced exposure, with advisors trimming holdings and hedge funds scaling back amid a broader leverage unwind. However, longer-duration investors, such as endowments, pensions, and sovereigns, continued to accumulate positions quietly. Despite Bitcoin falling about 23% from its high, global Bitcoin ETF flows remained positive, suggesting the sell-off was driven more by long-time holders taking profits than by new institutional money exiting. CoinShares noted that a roughly 25% quarterly drawdown did not trigger broad institutional capitulation, with most declines in assets under management reflecting price moves. The firm cautioned that the sample size is small and the true test will come during sharper price moves, such as Bitcoin's slide toward $60,000.
(Source：CoinDesk)