Analyst: Institutions sold over 25,000 BTC corresponding to Bitcoin ETF shares last quarter

Bloomberg ETF analyst James Seyffart stated that, according to the 13F filings disclosed by the U.S. SEC, institutional investors sold a total of approximately 25,098 BTC worth of Bitcoin ETF shares in the fourth quarter of 2025, indicating a clear trend of reduction.

Data shows that investment advisors and hedge funds are the main holders of Bitcoin ETFs, with Brevan Howard reducing its holdings the most, selling over 17,000 BTC worth of ETF positions. This round of selling occurred during the period when Bitcoin's price fell from over $120,000 in 2025 to below $85,000. Currently, the price of Bitcoin has further declined to around $64,000, and market sentiment remains in a state of extreme fear.