According to CoinMeta, Wu said that in the second quarter of 2026, Bitcoin fell by 14.2%, but institutional Bitcoin holdings ETF increased from 498,389 to 535,723, a rise of 7.5%. The number of institutions disclosing their Bitcoin holdings through 13F filings decreased from about 2,000 to about 1,900, a reduction of about 6.8%. The increase in holdings mainly came from banks and quantitative funds, while sovereign wealth funds and university endowment funds largely maintained their holdings. Hedge funds reduced some of their ordinary ETF shares, but it is difficult to determine their actual exposure due to options holdings.