Macquarie's move is quite interesting; while the BTC ETF is cut by 20%, Circle is aggressively buying 188%, and institutions are also rebalancing their portfolios.

Crypto news, Australian financial services company Macquarie Group Ltd submitted a 13F filing in mid-May showing that its Bitcoin ETF holdings decreased from 51.26 million shares to 41.39 million shares, a reduction of about 19.3%, with asset value dropping from approximately $255 million to $159 million. Ethereum ETF holdings decreased from 3.634 million shares to 3.289 million shares, a reduction of about 9.5%, with asset value dropping from approximately $81.5 million to $52.1 million. Additionally, Macquarie Group cut its position on Coinbase by 19%, while increasing its holdings on Circle by 188%, with a value of $2.326 million as of the end of Q1, and added a Bitmine position, valued at $4.153 million as of the end of Q1.