Tom Lee, the analyst from Fundstrat, calls the Bitcoin ETF the most successful product launch in history, but the price of Bitcoin has only slightly increased and is moving sideways. The reason is that investors are converting existing Bitcoin into #ETF to exchange for stocks, instead of buying new ones. Those who bought Bitcoin at $100 are taking profits at $100,000, creating selling pressure. Currently, 95% of large institutions have not participated, with trading primarily from long-term holders selling to realize profits, while new buyers are increasing. This trend indicates a transfer of ownership $BTC , reinforcing the role of ETFs in finance and promoting DeFi and blockchain.

Risk warning: The information is for reference only and not investment advice.