Bitcoin ETF Q1 Outflows: Hedge Funds Cut 39% as Banks Add

CoinShares Q1 13F review show say Bitcoin ETF ownership don shift wella as bear market deepen. Professional investors cut total Bitcoin ETF exposure to 261,000 BTC (from 313,000 BTC), na 17% drop, while reported value reduce 35% to $17.8B. Share of US Bitcoin ETF assets wey 13F filers hold drop to 20.8% from 24.7%. Selling concenter for hedge funds and brokerages, wey cause about 96% of the cut in Bitcoin ETF holdings. Hedge funds cut 31,400 BTC (-39%) and brokerages reduce 18,800 BTC (-53%). Investment advisors remain steady small, down only 5.9% to 150,300 BTC. Banks actually add about 7,800 BTC during the quarter, more than offset some of the selling. The institutional position change match price weakness: BTC fall 22% in Q1 and briefly drop under $60,000. CoinShares talk say the pattern dey like past drawdowns where leveraged and tactical strategies unwind. Citigroup also flag say spot Bitcoin ETF flows affect about 45% of weekly BTC return swings, mean say more ETF outflows fit put pressure on near-term moves. For long-term outlook, CoinShares point to regulatory progress and possible catalysts, like clearer SEC/CFTC oversight and proposed retirement-account rules for digital assets, plus continued market focus on the CLARITY Act.