Yonsei_dent2024-01-11

<ETF approval will boost institutional capital inflow into BTC>

✒️You can gauge the level of institutional capital inflow into BTC through the ‘Fund Volume’ indicator, which is the trading volume of products traded at digital asset management companies. Fund Volume has steadily increased since the second half of 2023 and reached the level of the fourth quarter (Q4) of 2020. GBTC & BTCC.U trading volume also appears to have recovered to 2020 levels. And on January 10th, the SEC finally approved the listing of BTC ETF. BTC ETFs can now be added to everything from pension funds to investment portfolios. Additionally, individual investors used to have to buy BTC on cryptocurrency exchanges while paying transaction fees, but now accessibility has improved. This means there can be multiple inflows of capital, from institutions to individual investors. 📌Under the premise that the Fund Volume indicator reflects ETFs approved on the 10th, the indicator is expected to continue rising for the time being. Given that the Volme Peak was formed ahead of the ATH in 2021, it is necessary to monitor whether there is a critical inflection in Fund Volume.