According to on-chain data from CryptoQuant, institutional BTC holdings, including those held by trusts, ETFs, and closed-end funds, have declined from 1.33 million BTC three months ago to 1.2 million BTC, a decrease of approximately 10%. Meanwhile, corporate Bitcoin treasury models are also under pressure. Analysts at Novaque Research note that the market capitalizations of several Bitcoin treasury companies have now fallen below the net asset value (NAV) of their BTC holdings, indicating a clear weakening of the previous positive cycle of "stock premium → financing to buy BTC → strengthened premium." Last week, Strategy, the company with the largest BTC holdings among publicly traded firms, sold 1,638 BTC.
Institutional Bitcoin Holdings Fall 10% Over Three Months, Corporate Vault Model Under Pressure
TechFlowShare
Summary
Bitcoin news reports that institutional Bitcoin holdings have declined by 10% over three months, dropping from 1.33 million to 1.2 million BTC, according to on-chain data from CryptoQuant. Bitcoin analysis from Novaque Research indicates that corporate vault models are under pressure, with several companies trading below their BTC net asset value. The largest publicly traded BTC holder, Strategy, sold 1,638 BTC last week.
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