Global financial institutions are flocking to the cryptocurrency market, mainly through #BitcoinETF spot funds and stocks of related companies. This is considered a large "wave" of capital, helping to make the cryptocurrency market more mainstream.

Institutional capital inflows

Many leading financial institutions have significantly increased their holdings of Bitcoin spot ETF products:

Brevan Howard doubled its holdings of IBIT to 37.9 million units.

Goldman Sachs owns $3.3 billion of IBIT and FBTC.

Harvard University holds $1.9 billion of IBIT.

Wells Fargo and Cantor Fitzgerald have also increased their investments in these products.

The $2 trillion Norwegian pension fund indirectly owns $841 million of Bitcoin through related stocks.

The Rise of ETFs and IPOs

Bitcoin spot ETFs saw $547.6 million in inflows last week alone, with crypto ETFs now holding $136 billion in assets under management (AUM). They could soon overtake gold to become the third-largest ETF in North America, according to State Street.

At the same time, the market has also seen the success of #IPO tranches from crypto companies like Circle and Bullish, with other big names like Gemini and Kraken preparing to list.

Impact and Conclusion

The involvement of major banks like Citigroup and asset managers like BlackRock shows that cryptocurrencies are increasingly integrating into the traditional financial system. Spot ETFs and IPOs have become the official gateway for institutions to access this market, marking a new era for the development of cryptocurrencies. #anhbacong