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Institutional flow is dominating the market.
Roughly 40% of all #BTC-ETF holdings are now in the hands of institutional investors — and that’s still a conservative figure.
Remember, only firms with $100M+ AUM are required to report, so the real number is likely higher.
And beyond ETFs, treasury firms are quietly accumulating massive amounts of spot BTC.
The big money isn’t waiting.
It’s positioning.