According to Cointelegraph, a new report from Binance stated that since the launch of the spot Bitcoin ETF, most of the demand has come from retail investors rather than institutional investors. Binance analysts said that as of October 10, non-institutional investors accounted for nearly 80% of the total assets under management (AUM) of spot BTC ETFs.
Additionally, a large portion of the $63.3 billion in assets under management that the spot Bitcoin ETF has amassed since its launch in January are not necessarily new investments in the cryptocurrency space. While retail investors make up the majority of the fund’s investments, Binance analysts noted that there is also growing demand on the institutional side, with investment advisors and hedge funds being two of the fastest growing stakeholders.
