Galaxy Research says a handful of hedge funds and banks drove almost all institutional selling of U.S. spot Bitcoin ETFs, while wealth platforms and sovereign funds bought. Holdings reported by institutions in 13F filings fell 14%, from 355,000 BTC at the end of September 2025 to 307,000 BTC by June 2026. Nine firms, including Millennium Management, Goldman Sachs and Tudor Investment, cut 68,000 BTC, roughly $5.4 billion at current prices, while Morgan Stanley's wealth management arm, Mubadala and the Abu Dhabi Investment Council were among the buyers. Galaxy says the sellers were mainly running cash-and-carry trades rather than betting on Bitcoin, as the front-month futures basis averaged 4.8% annualized in the 30 days to Oct. 21, just 0.6 points above Treasury bills, down from 7.9% before the all-time high. Since the June low, the funds have added 87,000 BTC, which Galaxy calls directional buying.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Wall Street’s Fast Money Fled Bitcoin ETFs, Sovereign Funds Stepped In
Read the original on Decrypt ↗
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Related tickers and likely impact
BTC/USDT
• NeutralBitcoin
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/27/2026 | 80,909.77 |
| Change that session | +0.95% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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