The global cryptocurrency exchange-traded product (ETP) market has seen a decline in assets under management, dropping by approximately 15% since the start of the year to $140 billion.
This reduction is mainly due to the drop in Bitcoin's price from its peak of $126,000. Despite this, the amount of Bitcoin held by these ETPs remains at 1.25 million BTC, within 8% of its all-time high.
Sentora's analysis highlights that institutional investors are not significantly selling their crypto ETP positions. The data suggests that long-term holders, including pension funds and asset managers, are maintaining their positions despite the volatility.