Macro Strategist Challenges Popular Narrative on Bitcoin ETF Ownership 📉
Macro strategist Jim Bianco is challenging the prevailing belief that institutions and high-net-worth individuals dominate the ownership of Bitcoin ETF shares. Bianco recently shared some surprising insights from the latest 13F filings with the SEC, shedding light on the real breakdown of investor types in Bitcoin ETFs for the first quarter of 2024.
Key Findings from the 13F Filings 📊
- Bianco points out that the majority of investors in spot Bitcoin ETFs are retail investors, comprising about 85% of the shareholding, contrary to popular opinion.
- Only a small percentage of the outstanding ETF market cap, approximately 3%, is held by investment advisors, debunking the notion that institutional investors are driving the market.
- Hedge funds hold around 10% of the Bitcoin ETF shares, with the remaining 85% owned by non-institutional investors, primarily retail investors.
Debunking the Boomer FOMO Theory 🧐
Bianco’s analysis challenges the narrative that wealthy baby boomers are flocking to Bitcoin, as the data suggests a more significant presence of retail investors in the market. Despite ongoing speculation about institutional interest, the figures reveal a different reality, highlighting the growing participation of individual investors in the crypto space.
Market Implications and Bitcoin Price Movement 💹
As of the recent data, Bitcoin is trading at $70,947, showing a notable increase of over 7% in the last 24 hours. This price action coincides with the findings from the 13F filings, indicating a strong retail presence in the Bitcoin ETF market, influencing the overall trading landscape.
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The post Macro Strategist Jim Bianco Reveals Retail Investors Hold 85% of Bitcoin ETF Shares As of Q1 2024 appeared first on The Daily Hodl.
Sources:
1. Tweet from Jim Bianco
2. Tweet from Jim Bianco
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