Crypto Funds’ Bitcoin Holdings Rise as Investor Demand Rebounds

Digital asset-based trusts and funds have boosted their bitcoin holdings as investor demand has rebounded in the weeks following a number of bank failures.
Data from crypto analytics firm CryptoQuant showed the amount of bitcoin (BTC) held by digital asset managers such as trusts and exchange-traded products (ETP) started to fall sharply in early March, dropping below 688,000 bitcoins on March 14 in the immediate aftermath of the failures of Silvergate Bank, Signature Bank and Silicon Valley Bank.