institucionales

📊 Bitcoin ETFs have seen five consecutive weeks of net outflows.

$5.4 billion $USDT withdrawn. The longest streak of outflows since April 2025.

And yet, there's something that this number doesn’t account for.

Last week, amidst the largest outflows of the year, Strategy bought 1,550 $BTC , Bitmine picked up 126,971 $ETH , and Strive added 32 BTC to their treasury.

Institutions using ETFs are exiting. Institutions buying directly are entering.

These are two completely different types of institutional capital.

ETFs represent managed capital: funds responding to redemptions from their retail clients. When retail panics, managers sell. Not because they think the asset isn't worth it. But because their clients are asking for their money back.

Treasury companies like Strategy or Bitmine don’t have that problem. They buy when they want. And this week, they wanted to.

Which of the two groups has better insight into the real value of the asset?

The answer isn’t obvious. But the question definitely matters.

Which type of capital do you trust more to gauge market direction?

#bitcoin #etf #institucionales #InstitutoBlockchain #FranBerlin