Bitcoin’s Q2 selloff split Wall Street as banks bought, hedge funds cut and sovereigns held

Bitcoin fell 14.2% in the second quarter, while institutional Bitcoin ETF holdings rose 7.5% over the same period, climbing from 498,389 to 535,723 BTC equivalent. Fewer institutions drove that increase, with the number reporting Bitcoin positions through 13F filings falling roughly 6.8%, from about 2,000 to around 1,900.Those figures are Bitcoin Strategy's second-quarter estimate, built from public 13F filings the SEC collects but does not itself aggregate this way.CoinShares, using its methodology on the prior quarter, counted just 261,000 BTC held by professional 13F filers. It put the professional share of US-traded spot Bitcoin ETF assets at 20.8%, well below Bitcoin Strategy's 44.2% figure.The gap between those two counts shows how much the headline number depends on which filers and products get counted.MetricQ1 / prior levelQ2 levelChangeWhy it mattersBitcoin price——-14.2%ETF ownership rose during a drawdownInstitutional BTC-equivalent ETF holdings498,389 BTC535,723 BTC+7.5%Fewer filers controlled more ETF BitcoinInstitutions reporting Bitcoin positions~2,000~1,900-6.8%Ownership became more concentratedInstitutional share of ETF Bitcoin38.4%44.2%+5.8 ptsThe headline adoptio...