Analysts say institutions sold over 25000 BTC corresponding ETF shares last quarter

Bloomberg ETF analyst James Seyfart stated that according to the 13F filing disclosed by the US SEC, institutional investors sold approximately 25098 BTC corresponding to Bitcoin ETF shares in the fourth quarter of 2025. Data shows that investment advisors and hedge funds are the main holders of Bitcoin ETFs, with Brevan Howard having the largest reduction in holdings, selling over 17000 BTC corresponding to ETF holdings. This round of selling occurred during the period when the price of Bitcoin fell from a high of over $120000 in 2025 to below $85000. Currently, the price of Bitcoin has fallen to about $64000, and market sentiment is in a state of extreme panic.