Nearly 1,000 professional firms have reported owning U.S. spot Bitcoin ETFs, more than have ever reported owning gold ETFs. This number attests to a significant shift by institutional investors toward cryptocurrency. And once again, a big part of this is thanks to Bitwise, which shows growing belief in digital currencies as good investments by the growing financial sector.

The first quarter also saw that professional investors hold an insane $11.06 billion in Bitcoin ETFs, comprising 18.7% of the total assets under management. While most of these assets are owned by the retail investor, the scale of institutional investment is just huge. It is indicative of growing belief and interest on the part of veteran financial entities.

And topping this list in terms of such interest from institutions were the ARKB and HODL ETFs, which received large allocations from ARK and VanEck. These are now some of the prime examples of how strategic institutional support is driving the adoption and, in turn, the value of such investment products based on cryptocurrency.

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