The Institutionalization Process of the Cryptocurrency Market Accelerates in 2024
The cryptocurrency market in 2024 exhibits significant institutional characteristics, with data showing that the proportion of institutional investors has surpassed 60% for the first time. The total size of Bitcoin spot ETFs from traditional asset management companies like BlackRock and Fidelity has exceeded $40 billion, with an average daily net inflow of around $200 million. Meanwhile, open interest in CME Bitcoin futures has reached a historical high, indicating a surge in institutional hedging demand. Changes in market structure have brought new characteristics: volatility has dropped to 65% of Bitcoin's historical average, and the correlation with traditional assets has risen to 0.4. Investors are advised to pay attention to changes in institutional holdings and focus on allocating crypto assets that are included in mainstream institutional investment lists.