[Analyst: Institutions Sold Over 25,000 BTC Worth of Bitcoin ETF Shares Last Quarter] Odaily Planet Daily News – Bloomberg ETF analyst James Seyffart stated that, according to 13F filings disclosed by the U.S. SEC, institutional investors cumulatively sold approximately 25,098 BTC worth of Bitcoin ETF shares in the fourth quarter of 2025, indicating a clear trend of reducing positions. Data shows that investment advisors and hedge funds are the primary holders of Bitcoin ETFs, with Brevan Howard leading the sell-off, reducing its ETF holdings by over 17,000 BTC. This wave of selling occurred as Bitcoin's price dropped from its 2025 peak of over $120,000 to below $85,000. Currently, Bitcoin's price has further declined to around $64,000, with market sentiment remaining in the extreme fear zone.