PANews reported on June 5th that, according to Cointelegraph, CoinShares' analysis of quarterly 13F filings revealed that professional investors reduced their Bitcoin ETF exposure from 313,000 BTC to 261,000 BTC in the first quarter, a decrease of 52,000 BTC, or 17%. The total value of these holdings decreased by 35% to $17.8 billion, while the share of U.S. Bitcoin ETF assets held by 13F filers fell from 24.7% to 20.8%.

The sell-off was primarily concentrated in hedge funds and brokerages, accounting for approximately 96% of the total reduction. Hedge funds sold 31,400 BTC (a 39% decrease), while brokerages sold 18,800 BTC (a 53% decrease). In contrast, the largest group of professional investors—investment advisors (holding 150,300 BTC)—sold only 5.9%. Banks, on the other hand, more than doubled their Bitcoin ETF holdings, adding 7,800 BTC during the quarter. CoinShares digital asset analyst Matt Kimmell stated, "This dataset aligns with historical Bitcoin market performance during downturns; leveraged and strategic positions are being cleared out."