Institutional holdings in US spot bitcoin ETFs rose to 24 per cent by the end of the second quarter of 2024, according to analysts at HC Wainwright, up from 21.4 per cent in the previous quarter, according to the latest 13-F filing and data aggregated by Coinbase. Despite the challenging market environment, these ETFs saw their total assets under management fall 13% month-on-month to $51.80 billion, but still saw growth due to the decline in bitcoin prices and new institutional investors including Goldman Sachs (holding $412 million ETF shares) and Morgan Stanley (holding $188 million).