Morgan Stanley fully exited 8,300 BTC in Q1, while BlackRock's IBIT led a reversal of 13 days of outflows. Banks doubled ETF exposure, hedge funds slashed holdings.
Spot Bitcoin ETFs saw $648.6M in outflows on May 18, led by BlackRock's IBIT. Geopolitical tensions and rising yields drive institutional risk-off. Analysts see dip as healthy correction.