In-Depth Analysis of the Institutionalization Process of the Cryptocurrency Market in 2024
In 2024, the participation of institutions in the cryptocurrency market reached an all-time high, with data showing that institutional investors accounted for over 65% for the first time. The total scale of Bitcoin spot ETFs from traditional financial institutions such as BlackRock and Fidelity surpassed $50 billion, with daily net inflows maintaining at $250 million. CME Bitcoin futures open interest reached a historic record of $28 billion, indicating a continued increase in institutional hedging demand. This trend has brought significant changes to the market structure: the 30-day volatility of Bitcoin has dropped to 28%, and its correlation with traditional stock indices has increased to 0.45. Notably, a recent report from JPMorgan indicates that institutional funds are spreading from Bitcoin to mainstream altcoins like Ethereum, signaling a more comprehensive process of institutionalization.
