April Rali Bitcoin Driven by Institutions, ETFs Abandoned by Retail: Here’s What Coinbase Executives Say

Updated

April 25, 2025

Gambar April Rali Bitcoin Driven by Institutions, ETFs Abandoned by Retail: Here’s What Coinbase Executives Say

Jakarta, Pintu News – Bitcoin’s recent $93,000 price surge was not driven by retail exchange-traded fund (ETF) buyers, but by large institutions with stable funds. According to John D’Agostino of Coinbase Institutional in an interview with CNBC, this rise was triggered by stealth accumulation by institutional investors and sovereign wealth funds since early April, while retail investors have been withdrawing their funds from spot ETFs.

The Main Causes of Bitcoin’s Price Rise

D’Agostino suggests three main reasons why large institutions and sovereign wealth funds are interested in Bitcoin. First, there is de-dollarization, where they reduce their exposure to the US dollar as trade weakens. Second, Bitcoin is starting to shed its identity that has been closely tied to technology, such as Nvidia.

Third, the hedge basket theory. Bitcoin is now in the top five in inflation hedging models used by experienced commodity traders. With core characteristics such as scarcity, immutability, and portability of non-sovereign assets, Bitcoin is now trading in line with its proponents’ expectations.

New Bitcoin Investment Company Launches

bitcoin etf filings by US financial institutions — Cryptopotato

This week, Strike CEO Jack Mallers and Brandon Lutnick of Cantor Fitzgerald introduced Twenty One Capital, a new Bitcoin investment firm backed by Tether , Bitfinex, and SoftBank. The company will launch with over 42,000 BTC and is expected to be publicly traded under the ticker “XXI” after a merger with Cantor Equity Partners, a $200 million SPAC.

This initiative marks a formal step of institutional faith in Bitcoin. With backing from major entities, it shows the institutional sector’s strong belief in Bitcoin’s future.

Comparison with Altcoins and ETFs

While Bitcoin is showing gains, other major altcoins such as Ethereum , Solana , and Cardano have not shown similar technical moves. The CoinDesk 20 (CD20) index, which measures the performance of the world’s largest digital assets, is down 3% in the last month, while Bitcoin is up 7%.

However, the recent price rise may have reignited retail interest in Bitcoin ETFs. Data from SoSoValue shows that ETF inflows reached over $900 million for two consecutive days, with total inflows reaching over $2.2 billion between April 21 and 23. There were nine days this month where Bitcoin ETFs experienced net outflows, totaling around $1.21 billion.

Conclusion

With strong support from large institutions and the launch of new investment firms, the future of Bitcoin looks increasingly bright. Despite the withdrawal from ETFs by retail investors, the trust and investment from large institutions indicates a paradigm shift in cryptocurrency investment.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.