Coinbase: Continuous inflow of Bitcoin spot ETF funds indicates increased institutional interest

According to Coinbase's weekly market report, the latest 13F filing for the U.S. Bitcoin spot ETF shows signs of increasing institutional interest. Coinbase analysts David Duong and David Han stated: "We believe that during periods when Bitcoin is underperforming, continued inflows into the spot Bitcoin ETF could be a promising indicator, showing increased (institutional) interest in cryptocurrencies." The analysts pointed out that compared to Q1 after the first batch of Bitcoin ETFs were launched, there was an increase in interest in spot Bitcoin ETFs in Q2. "An increasingly larger portion of these fund flows seem to be driven by institutions, with institutional holdings rising from 21.4% to 24.0%," they said. The report emphasized an increase in institutional fund inflows from the "investment advisor" category. These advisors manage large amounts of money and typically make decisions on behalf of clients regarding asset allocation, investment strategies, and specific security purchases.