Investment Advisors Dominate Ethereum and Bitcoin ETF Holdings

Investment advisors have taken on a leading role in cryptocurrency exchange-traded fund (ETF) holdings, with their investments surging to over $1.3 billion for Ethereum ETFs during the second quarter, according to data shared by Bloomberg analyst James Seyffart. This represents a significant jump of 68% compared to the previous quarter. A similar trend is observed in U.S. spot Bitcoin ETFs, where advisors now hold 161,000 Bitcoins worth over $17 billion. These developments indicate a shift towards more long-term and portfolio-driven allocations within the cryptocurrency market.