$BTC Swan Bitcoin CEO: Retail investors remain crucial to Bitcoin, with ETF capital outflows reaching $2.9 billion since May 15.
According to BlockBeats, on May 30, Swan Bitcoin CEO Cory Klippsten stated that despite continuous institutional capital inflows, retail investors still play a vital role in Bitcoin's price movements.
He believes that companies like BlackRock and Fidelity do not directly "own" Bitcoin; instead, ETF holders—primarily retail investors—hold Bitcoin through these instruments.
ETF issuers must purchase and custody actual Bitcoin in the spot market to meet underlying