Coinbase has reported that updated 2Q 2024 13-F filings indicate a notable increase in institutional inflows into U.S. spot Bitcoin ETFs, which the company views as a “promising indicator” for the Bitcoin market. The 13-F filings, released on August 14, reveal that institutional ownership of these ETFs grew from 21.4% to 24.0% between Q1 and Q2 of 2024.

Significantly, the proportion of ETF shares held by the “investment advisor” category rose from 29.8% to 36.6%, signaling heightened interest from wealth management firms. Notable new holders include Goldman Sachs and Morgan Stanley, who added $412 million and $188 million worth of shares, respectively. Despite Bitcoin’s price drop…

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