Recent SEC 13F filings reveal that investment advisors have become the dominant holders of U.S. spot Bitcoin ETFs, signaling accelerating adoption of crypto in traditional finance. Advisors now hold over $10.28 billion in BTC ETFs — approximately 124,753 BTC — making up nearly half of all institutional assets in these products.
Hedge funds follow with $6.9 billion (around 83,934 BTC), with brokerages and holding companies trailing behind. Bloomberg ETF analyst Eric Balchunas notes that advisors are now "number one by a mile" in institutional participation. He expects 13F filers — which currently account for around 20% of total Bitcoin ETF assets — to grow to 35–40% as demand from traditional financial firms increases.
Meanwhile, Ether (ETH) ETFs are also gaining traction. Investment advisors hold $582 million worth of ETH exposure (320,089 ETH), while hedge funds have allocated $244 million (134,469 ETH), according to Bloomberg analyst James Seyffart.
The total institutional exposure to Ether ETFs has surpassed $1.06 billion (587,348 ETH). Although still behind Bitcoin in scale, the growing interest shows a shift toward broader institutional adoption of crypto beyond BTC alone.