Bitcoin ETFs have brought in $3.8 billion over the past three weeks, the strongest three-week stretch so far in 2026. I mentioned this ETF variable back when I talked about that golden cross, and now the numbers are out. $3.8 billion sounds huge—but honestly, my first reaction was the image of retail investors piling in back in 2017. This $3.8 billion time, is it retail or institutions? It’s different. Institutions buy with a holding mentality; retail buys with FOMO. I’ve seen how the FOMO wave played out afterward, but with this institutional wave, I’m not sure how long they plan to hold. Back in 2021, ETFs weren’t open yet. Now they are, and when institutions go in at that scale, they also come out at that scale. I can’t say I fully understand it, I just think it needs to be watched—not the price, but when the people behind that $3.8 billion start moving.