Institutional Demand Returns Amid Bitcoin Price Corrections
Previously, due to the Bitcoin price testing the support level of $100,000, coupled with increased macroeconomic uncertainty, U.S. institutions briefly withdrew from the market, resulting in a rapid correction. However, institutional demand in the U.S. has begun to return.
According to a prior report by Zombit, the largest Bitcoin spot ETF in the U.S. — BlackRock’s iShares Bitcoin Trust (IBIT) — surpassed $70 billion in assets under management yesterday, surpassing gold to become the fastest ETF to reach this milestone, indicating that mainstream capital continues to flow in.