According to BlockBeats, on September 10, Tom Wan, a strategist at 21.co, said on the social platform that the supply of WBTC has decreased by 1,600 (US$96 million) since the custody announcement. Companies such as Galaxy, FalconX, Tokka Labs, Coinlist, Abra, and Crypto dot com have all redeemed WBTC, indicating that institutions are looking for a more reliable BTC wrapper asset.