Major Banks Dominate Bitcoin Market, Control Price Action via ETFs
According to reports, the crypto market has shifted from retail-driven to institutional, with major banks now controlling the "plumbing" of Bitcoin. BlackRock's spot Bitcoin ETF (IBIT) holds a significant amount of BTC. Crypto ETPs have seen substantial inflows, with Bitcoin leading. US spot Bitcoin ETFs collectively hold a notable percentage of Bitcoin's circulating supply. Institutional funds are dominating centralized exchange trading volumes. Surveys indicate that a significant percentage of respondents plan to increase crypto allocations. Major banks like BNY Mellon, State Street, JPMorgan, and Citi have moved into live digital asset services, bringing substantial assets under management into the market.
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