Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
CryptoQuant CEO: The demand for Bitcoin allocation through custodial services is on the rise

CryptoQuant CEO: The demand for Bitcoin allocation through custodial services is on the rise

Bitget2024/10/29 06:11

CryptoQuant CEO Ki Young Ju posted on platform X stating that institutional demand for Bitcoin custody wallets is rising. Over the past year, there has been a net inflow of 278,000 Bitcoins (about 80% from retail investors) into U.S. spot ETFs, while large wallets (holding more than 1,000 Bitcoins and excluding exchanges and mining pools) have seen a net inflow of 670,000 coins. This shows that institutions are allocating to Bitcoin through custody services at about 2.4 times the scale of ETF channels.

Ki Young Ju added that these whale wallets are a superset of custody wallets. As most ETF wallets hold less than 1,000 Bitcoins, these figures can reflect the actual situation of custody wallets quite well. He also pointed out that more detailed data is needed to gain deeper market insights.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!