Investments in exchange-traded funds (ETFs) for Bitcoin are on the rise, according to a senior analyst at crypto intelligence platform K33 Research. Vetle Lunde, in a social media post, revealed that in the first quarter, more professional firms invested in Bitcoin ETFs than in gold ETFs during their respective first quarters. Lunde cited 13F filings, which are quarterly reports that institutional investment managers submit to the U.S. Securities and Exchange Commission (SEC) if they have over $100 million in assets under management. The filings showed that as of March 31, 937 professional firms were invested in US spot ETFs, while gold ETFs had 95 professional firms invested. Lunde also noted that retail investors hold the majority of spot Bitcoin ETFs, accounting for $47.96 billion in investments, which represents 81.3% of the assets under management. Professional investors held $11.06 billion, making up 18.7% of the BTC ETF assets. The largest institutional capital has been attracted to ETFs such as ARK 21Shares Bitcoin ETF (ARKB) and the VanEck Bitcoin Trust (HODL). Major financial institutions like Morgan Stanley and JPMorgan have also purchased Bitcoin ETF shares, while the state of Wisconsin disclosed its holdings in two Bitcoin trusts. As always, investors are advised to conduct thorough research before making any high-risk investments in Bitcoin or other cryptocurrencies.