币界网报道：According to Cointelegraph, Bitcoin ETF assets held by institutions fell for the first time in the first quarter of 2025, with the total size falling from $27.4 billion in the fourth quarter of 2024 to $21.2 billion, a drop of 23%. The CoinShares report pointed out that this was mainly due to the 11% drop in Bitcoin prices in the quarter, rather than a large-scale sell-off. It is worth noting that the financial advisor group increased its holdings of Bitcoin ETFs against the trend, while most asset management institutions reduced their positions. During the same period, companies continued to include Bitcoin in their balance sheets. As of the end of the quarter, listed companies held a total of 1.98 million BTC, an increase of 18.6% from the beginning of the year. Among them, Strategy continued to increase its holdings in 17 of the 20 weeks ending in June, and purchased 15,355 BTC in a single day on April 28. Analysts believe that rising U.S. Treasury yields may weaken the attractiveness of traditional safe-haven assets or provide support for Bitcoin's long-term trend.