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CryptoQuant CEO: Institutional demand in custodial wallets is twice that of retail investors, with 670,000 BTC flowing in over the past year
2024-10-29 05:30
Odaily News CryptoQuant CEO Ki Young Ju posted on X that institutional demand for Bitcoin in custodial wallets is rising. In the past year, 278,000 BTC flowed into US spot ETFs (80% of which were retail investors), while 670,000 BTC flowed into whale wallets (holding more than 1,000 BTC, excluding exchanges/mining pools). In custodial wallets, institutional demand is twice that of retail demand. Ju added that these whale wallets are a superset of custodial wallets. Since most ETF wallets hold less than 1,000 BTC, in his opinion, they accurately represent custodial wallets.
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