Investment advisors have ramped up their stakes in spot Bitcoin exchange-traded funds (ETFs) during the second quarter of 2024, while hedge fund holdings have seen a slight decline, according to cryptocurrency exchange Coinbase. It is likely that the rate of investment advisors holding spot Bitcoin (BTC) ETFs is only going to increase further as “more brokerage houses complete their due diligence on these funds,” according to an Aug. 16 report published by Coinbase. The proportion of institutional holders labeled as “investment advisors” rose 3% during the second quarter of 2024, now accountin…