Institutions had a net reduction of over 25,000 BTC in Bitcoin ETF holdings in Q4 last year.

PANews, February 25 – According to The Block, Bloomberg ETF analyst James Seyffart stated that, based on 13F filings, holders of Bitcoin ETF shares collectively sold approximately 25,098 BTC worth of fund shares in the fourth quarter of 2025, mainly from institutional investors such as investment advisors and hedge funds. Among them, Brevan Howard made the largest reduction, cutting exposure by more than 17,000 BTC. During the same quarter, the price of Bitcoin fell from over $120,000 to below $85,000, with market sentiment remaining in the “extreme fear” zone. Recently, spot Bitcoin ETFs have seen net outflows for the fifth consecutive week, with 12 products collectively experiencing outflows of about $316 million in the week ending February 20.