13F updates Bitcoin Q2 data, large institutions have not withdrawn Based on all the data related to Bitcoin disclosed by 13F in the second quarter, excluding all options and futures exposures such as Call, Put, and BITO, only the data obtained from institutions' actual holdings of ordinary shares of Bitcoin: native spot ETFs is considered. Harvard Management held 3044612 shares of IBIT in the first quarter, but remained unchanged in the second quarter. Due to the decline in IBIT prices in the second quarter, the market value of this position in 13F decreased from approximately $117 million to $101 million, a decrease of over 13%, but the number of positions held remained unchanged. The actions of Abu Dhabi's sovereign wealth fund Mubadala are the same. I held 14721917 shares of IBIT in the first quarter and still held 14721917 shares in the second quarter. The market value of the position decreased from approximately $566 million to $490 million, mainly due to the price drop of IBIT itself, rather than selling. JPMorgan is actually increasing its position. In the first quarter of 13F, JPMorgan held 8302691 shares of IBIT, which increased to 10407635 shares in the second quarter, an increase of approximately 2.1 million shares or 25.35% in one quarter. In addition, there is the Abu Dhabi Investment Commission (ADIC), which held 8218712 shares of IBIT in the first quarter and remained unchanged in the second quarter. Including Mubadala, the two Abu Dhabi sovereign funds collectively hold approximately 22.94 million shares of IBIT, valued at approximately $764 million as of June 30th. Tudor Investment, a subsidiary of Paul Tudor Jones, is also increasing its spot positions. In the first quarter, it held 579083 shares of IBIT, which increased to 688529 shares in the second quarter, an increase of 109446 shares, with a growth rate of about 18.9%. Of course, not all institutions are increasing their positions, and there are also reductions and adjustments in 13F. Moreover, the decline in Bitcoin in the second quarter did cause many institutions to shrink their book value. However, at least from the disclosed major long-term funds, sovereign funds, and traditional financial institutions, what we see more is continuing to hold and increase their spot ETF positions, without large-scale withdrawals. At least we haven't seen a consistent withdrawal of large funds during the Bitcoin downturn. @Gate Crypto、 US stocks, Hong Kong stocks, South Korean stocks, gold CFD、 Predicting one-stop trading in the market