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Welcome back to The Mining Pod! Today, Sam Callahan joins us to discuss his viral research on institutional Bitcoin ETF holders. Sam manually analyzed 1,573 public filings to uncover who's buying Bitcoin ETFs – and how much they are buying. Callahan explains how each fund’s approach differs, how sovereign wealth funds are quietly accumulating, and why these inflows prove that bitcoin has crossed the rubicon into new financial territory. Plus, why pension funds, endowments, and financial advisors are the critical gateway for mainstream bitcoin adoption.
# Notes:
- Median Bitcoin ETF allocation is just 0.13%
- 1,573 institutions with Bitcoin ETF exposure
- Abu Dhabi Wealth Fund has $473M Bitcoin position
- BlackRock recommends 1-2% Bitcoin allocation
- Only 19% of 13F filings had Bitcoin exposure
- Top fund positions range from 5-16% allocation
Timestamps:
00:00 Start
01:25 Data collection
06:14 Surprises
09:17 Other commodity holdings
11:30 Riding the ETF wave?
24:24 Interesting BTC holders
29:20 Other potential holders
43:15 Tracking going forward
46:22 Mining stock still considered leveraged BTC?
