Golden Finance reported that Thomas Perfumo, head of strategy at Kraken, expects the scale of cryptocurrency ETF inflows to double to $50 billion by 2025. He said that "ultimate allocation institutions" such as sovereign wealth funds, endowment funds and pension funds will enter the market one after another next year, and large asset management institutions have begun to consider allocating 1% to 3% of their portfolios to crypto assets. Data shows that the total amount of Bitcoin held by 11 Bitcoin ETF issuers has exceeded $90 billion, accounting for more than 5% of the total supply of Bitcoin. The participation of mainstream asset management institutions such as BlackRock and Fidelity has reduced investment costs and risks while also increasing the market recognition of crypto assets.