Bitcoin

<p><a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> demand seems to be increasing in the case of custodial wallets. As per CryptoQuant’s CEO Ki Young Ju, the recent inclusion of 278,000 $BTC into the US spot ETF sector highlights a huge preference for custodial wallets among institutional players. He discussed the present ETF market scenario in recent social media posts.</p><h2 id="header-0">Institutional Demand of Bitcoin Rises among Custodial Wallets in Comparison with Retail Wallets</h2><p>Ki Young Ju mentioned that throughout the past year, the spot ETF market of the US added 278,000 $BTC. The retail investors reportedly accounted for eighty percent of the respective purchases. Nonetheless, big whale wallets accumulated a substantially huge volume, almost 67,000 $BTC, apart from mining pools and exchanges. The respective pattern indicates that the institutional players are notably preferring custodial wallets over straight ETF holdings.</p><p>In line with the data, a noteworthy spike in $BTC accumulation has taken place among the whale wallets. Several institutional investors seem to support the respective custodial solutions as a 3rd party manages their holdings. A potential reason behind this is the surge in regulatory safeguards and security that the above-mentioned custodial services deliver. While institutional demand is outcompeting retail demand, this trend points toward a likely shift in the market driven by institutions.</p><h2 id="header-1">The Development Highlights the Need for Additional Granular Data for Analysts</h2><p>Interestingly, the majority of the ETF wallets usually hold $BTC less than 1,000 in number. According to Ki Young Ju from <a href="https://cryptoquant.com/" rel="noopener noreferrer nofollow">CryptoQuant</a>, this figure works as a dependable benchmark to assess custodial wallet trends. Although this offers valuable insights, there is a requirement for additional granular data for analysts in pursuit of comprehending the forces behind the respective inflows.</p>

Institutional Bitcoin Demand Soars in Custodial Wallets, Says CryptoQuant CEO

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