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Bitcoin (BTC) institutional investment vehicles have shed 10% of their BTC holdings since May as analysis warns of a “breaking” sector.
Key points:
- Bitcoin institutional funds see a blanket 10% reduction in holdings over three months.
- Analysis says that the Bitcoin treasury model is “breaking” as company valuations fall below net asset value.
- Coinbase premium has been negative for a record 93 days.
Fund exposure drops as Bitcoin treasury companies face squeeze
Data from onchain analytics platform CryptoQuant shows that combined institutional BTC exposure, which includes trusts, exchange-traded funds (ETFs) and closed-end funds, has fallen from 1.33 million to 1.20 million BTC over three months.
Bitcoin fund holdings. Source: CryptoQuant
The drawdown comes as another major Bitcoin institutional investment vehicle, corporate treasuries, faces upheaval. Business intelligence software company Strategy, which holds the largest…
