Exclusive: Who’s Actually Dumping Bitcoin ETFs?
New data from recent 13F filings has finally pulled back the curtain on the "mystery sellers" behind the recent
$BTC ETF outflows. While many blamed retail panic, the numbers tell a different story of institutional de-risking.
The "Paper Hands" vs. "Diamond Hands"
The latest SEC filings reveal a massive divide in how Wall Street is handling BTC in 2026:
The Sellers (Hedge Funds): The "Smart Money" wasn't so patient. Hedge funds slashed their holdings by 28% last quarter.
Brevan Howard led the retreat, dumping a staggering 85% of its $IBIT position.
Other major exits included DE Shaw and Farallon Capital, who trimmed positions significantly as
$BTC faced macro headwinds.
The Holders (Advisors & Sovereigns): Surprisingly, wealth managers and sovereign funds are holding steady.
Investment Advisors actually grew their aggregate $IBIT holdings by 145% year-over-year.
Abu Dhabi increased its position by 46%, signaling long-term conviction from global power players.
Why the Massive Outflows?
Since the start of 2026, U.S. spot Bitcoin ETFs have seen a net outflow of roughly $2.6 billion. Analysts suggest this isn't a loss of faith, but a "tactical rotation." Hedge funds that entered for quick gains are exiting, while "sticky capital" from pension funds and advisors continues to accumulate during the dip.
The Bottom Line: We are witnessing a transition from speculative "hot money" to institutional "boring money." While the sell-off hurts the price today, it creates a much more stable foundation for the next leg up.
What’s your move? Are you following the Hedge Funds out, or the Sovereign Wealth Funds in? 👇
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