Professional investors cut their bitcoin ETF exposure sharply during the first quarter of 2026, but fresh filings show banks, advisors, and sovereign entities continued adding positions despite a deep market downturn. According to a recent report from Coinshares Digital Asset Analyst Matt Kimmell, professional bitcoin holdings fell from 313,000 BTC equivalent to 261,000 BTC, a 17% quarter-over-quarter decline. The total value of those holdings dropped 35% to $17.8 billion.