Institutional investors—based on 13F and 13G filings—increased their Bitcoin ETF exposure by 64,983 BTC in Q2, pushing institutional holdings to a record $33.6 billion, according to a report by K33.

Millennium and Jane Street closed Q2 as the largest institutional BTC ETF owners, with Millennium holding the top position for every quarter since Q1 2024. Abu Dhabi’s Mubadala sovereign wealth fund modestly increased its stake, while Harvard Endowment allocated $116 million into IBIT during Q2.

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The quarter marked a reversal from Q1 2025, when institutions trimmed their ETF exposure by 38,155 BTC even as other holders added 41,716 BTC. Institutional ownership of BTC ETFs rose from 21.92% in Q1 to 24.96% by the end of Q2, nearing but not exceeding the 25.38% peak recorded in Q4 2024. 

Overall U.S. spot Bitcoin ETF assets under management closed Q2 at an all-time high of $134.6 billion, with institutional investors accounting for roughly one-quarter of total assets.

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