Institutions have NOT invested in BTC

[Anonymous No.26220841]

Despite overwhelmingly widespread belief to the contrary:

>GBTC, or Grayscale Bitcoin Trust (not an ETF but rather an open-ended grantor trust) is widely viewed and used as the only vehicle to express a bullish (or bearish) position in bitcoin since the SEC has yet to greenlight a bitcoin ETF.

>Well, here's the issue: with bitcoin trading at roughly $37,500, having a market cap just shy of $700 billion, the market cap of GBTC is a tiny $26 billion, or less than 4% of the value of the underlying

>What about futures? Well, according to the latest (record) open interest there is a whopping.... $2.3BN in bitcoin futs open interest.

>In other words, bitcoin may be the "most crowded trade" in the imaginations of Wall Street professionals - perhaps due to its tremendous ascent, largely driven by whale and retail participation - but it certainly is not the most crowded street on Wall Street, where simply as a result of the limited array of assets available to Wall Street to go long (or short) bitcoin, the true level of exposure is a tiny fraction compared to other far more crowded positions

https://www.zerohedge.com/markets/everyone-wall-street-thinks-everyone-else-wall-street-long-bitcoin-almost-none-are

Bullish or Bearish?

[Anonymous No.26220971]

>>26220841
> Laughs in 70k btc

[kill pakistan No.26221027]

>>26220841
There's no fucking way in a million years all that capital came from retail investors

[Anonymous No.26221567]

>>26221027
Where is it coming from then?

[Anonymous No.26221605]

>>26221567
China

[Anonymous No.26221728]

>>26221605
Bitcoin is banned in china