Retail Investors Continue to Dominate BTC Spot ETF Purchases in Q2 2024

Macro strategist Jim Bianco has released surprising data revealing that retail investors dominate cryptocurrency investment funds, defying common market expectations. Bianco shared his findings with his followers on the X platform, stating that recent records indicate that retail investors accounted for 85% of Bitcoin ETF shares in the first quarter of 2024. This data emerged after the May 15 deadline for filing 13F forms with the U.S. Securities and Exchange Commission (SEC), and it shows lower participation by investment advisors and wealth managers, who are typically seen as significant influencers in the crypto space. Only about 3% of the ETFs’ market capitalization was held by investment advisors, contradicting the belief that institutional investors are driving the adoption of Bitcoin through these funds. This revelation challenges the notion that older investors, known as “boomers,” are heavily investing in cryptocurrencies, as the majority of ETF holders are non-institutional investors. This distribution of investments demonstrates the growing interest and confidence in Bitcoin among the general public, indicating that they are leading the cryptoasset market rather than following institutional investor trends.