[Professional Investors Reduced Bitcoin ETF Holdings by 52,000 BTC in Q1, a 17% Decrease] According to a report by Cointelegraph, CoinShares' analysis of quarterly 13F filings revealed that professional investors reduced their Bitcoin ETF holdings from 313,000 BTC to 261,000 BTC in the first quarter, a decrease of 52,000 BTC, representing a 17% drop. The total value of these holdings fell by 35% to $17.8 billion, while the share of U.S. Bitcoin ETF assets held by 13F filers declined from 24.7% to 20.8%. The sell-off was primarily concentrated among hedge funds and broker-dealers, which together accounted for approximately 96% of the total reduction. Hedge funds reduced their holdings by 31,400 BTC (a 39% decrease), while broker-dealers cut their holdings by 18,800 BTC (a 53% decrease). In contrast, the largest category of professional investors by holdings—investment advisors (holding 150,300 BTC)—only reduced their holdings by 5.9%.