According to BlockBeats, a report released by Bernstein analysts on June 19th indicates that recent 13F filings show institutional participation in spot Bitcoin ETFs is only 22%. The rise in liquidity of CME Bitcoin futures contracts after the launch of the ETF is evidence of basic trading. What bears overlook is that Bitcoin ETFs are 'about to be approved' on major securities firms and large private banking platforms in the third or fourth quarter of this year.
Despite the fact that the US spot Bitcoin ETF has seen net outflows for four consecutive days, totaling $714.4 million, with another $154.4 million outflow on Tuesday, Bernstein analysts predict that net inflows will accelerate again.
The analysts wrote, 'We expect the inflow of Bitcoin ETFs to accelerate again in the third/fourth quarter, the current turbulent market is providing new entry points, after which institutional demand will usher in the next round of rise.'