As of December 31, 2024, institutional investors held 25.4% of the assets under management (AUM) of spot Bitcoin ETFs, totaling $26.80 billion. Vetle Lunde, head of research at K33 Research, said that the proportion of assets under management of Bitcoin ETFs held by institutional investors increased by 113% between the third and fourth quarters of 2024. In addition, as total assets under management jumped 69% to $78.80 billion at the end of the fourth quarter, the proportion of assets under management held by institutional investors also increased by 4.1% quarterly. According to Lunde, the number of investors exposed to bitcoin through ETFs reached 1,576 in the last quarter, an increase of 37.4% quarterly and an annual increase of 68.2%. Lunde's data also shows that institutional interest in BlackRock's IBIT has more than quadrupled in 2024. At the end of the fourth quarter last year, institutional holdings in IBIT were reported at $16 billion, while the amount held through shares at the end of Quarter 1 was less than $4 billion, with most of the increase occurring between the third and fourth quarters. According to Bold Report, BlackRock's spot bitcoin ETF has $56.40 billion in assets under management, while all other US-traded spot bitcoin ETFs combined have $56.90 billion.