According to Foresight News, according to CoinDesk, data tracked by ByteTree showed that the number of tokens held by closed-end funds, spot- and futures-focused exchange-traded funds (ETFs) in Europe, the United States and Canada decreased by 16,560 BTC (US$409 million) this month to 826,113 BTC, reaching a 17-month low.
The decline in fund balances indicates a lack of institutional participation in the recent rise in Bitcoin prices. A decline in fund holdings does not necessarily mean that the price rebound is weak and unsustainable. Markus Thielen, head of research and strategy at Matrixport, said that the balances held by funds account for only a small part of the entire market, and other sources of demand are pushing up prices.
