[Bitcoin ETFs Held by Institutional Investors Reach $33.6 Billion in Q2] According to Cryptoslate, in the second quarter of 2025, investment advisors drove institutional investors' exposure to Bitcoin through ETFs to a scale of $33.6 billion. Data shared by Bloomberg ETF analyst James Seyffart shows that institutions cumulatively increased their holdings by 57,375 Bitcoins across all tracked categories. Bloomberg Intelligence data indicates that investment advisors currently hold Bitcoin ETF positions worth $17.4 billion, nearly double the $9 billion exposure held by hedge fund managers. Among new investors, Brevan Howard Capital Management became the largest institutional shareholder, with its BlackRock iShares Bitcoin Trust shares increasing to 37.5 million, valued at $2.3 billion. Harvard Management Company also entered with a $117 million position, a scale comparable to its largest publicly traded stock holdings, and its endowment fund's Bitcoin holdings, in dollar terms, have surpassed its gold holdings. Seyffart stated that investment advisors are now the largest holders of spot Bitcoin ETFs, increasing their holdings by 37,156 Bitcoins in the second quarter, bringing their total to 161,909 Bitcoins. Among 15 categories, nearly all saw increases, with only pension funds remaining unchanged. Brokerage firms and banks ranked second and third in institutional increases. The allocation scale of investment advisors exceeds the total of other institutions, indicating that professional wealth management is accelerating its integration. However, the $33.6 billion allocation by institutional investors is based on 13F filing data and accounts for only 25% of the total Bitcoin ETF shares. The remaining 75% of shares are held by investors not required to file, the majority of whom are retail investors.