Coin,base Announces “Promising” Development for Bitcoin: Institutions Are Buying
According to Coin,base, the largest cryptocurrency exchange in the US, institutional investors have started to show more interest in cryptocurrencies
According to the research conducted by Coin,base, the documents submitted to the SEC in the US show that institutional companies have started to play a more active role in the cryptocurrency sector
According to analysts, despite the decline in the price of Bitcoin, the fact that money is still flowing into spot Bitcoin ETFs shows that these investors are still interested in cryptocurrencies
Used largely by institutions
Exchange-traded funds (ETFs) facilitate investors’ access to cryptocurrencies since they are traded on traditional stock exchanges. Asset managers can use them to invest in Bitcoin without directly purchasing it
In the US, companies with assets worth at least $100 million file a 13F form with the SEC. According to Coin,base research, these documents are evidence of institutional companies’ interest in cryptocurrencies.
According to Coinbase research, the institutional ownership rate in these funds increased from 21.4 percent to 24 percent. This increase shows that the interest in spot Bitcoin ETFs is largely driven by institutions.
Investment advisors take action
Coinbase draws attention to the increase in institutional money flows in the “investment advisor” category. These advisors manage large amounts of capital, often making decisions on asset allocation, investment strategies and specific securities purchases on behalf of their clients
Analysts noted that the proportion of institutional owners categorized as investment advisors increased from 29.8 percent to 36.6 percent, and their share in total shares increased from 6 percent to 9 percent
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