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Michael Shaulov believes that while recent Bitcoin ETF filings could see new institutional money flow to Bitcoin, that in itself didn't drive previous price surges. While an approved BlackRock spot Bitcoin (BTC) exchange-traded fund (ETF) will funnel new institutional money to Bitcoin, it's going to be the retail investors that ultimately drive any significant price surges, according to Michael Shaulov, the CEO and co-founder of institutional custody platform Fireblocks. On June 15, investment colossus BlackRock filed for a spot Bitcoin ETF, leading to other financial firms filing their own, along with Bitcoin's price reaching its highest levels in a year. However, while many are hopeful that institutional involvement in crypto will further rocket price s, Shaulov notes that may not necessarily happen. "When institutions come in to participate in the market and they're doing it in a quiet way, they're able to do it almost without moving the price," Sha

ProShares’ BITO Bitcoin ETF saw a weekly inflow of $65 million as institutional investors have seemingly regained their mojo for Bitcoin futures. Bitcoin (BTC) exchange-traded fund (ETF) fervor is back with a raft of new applications and an increase in capital inflow s from institutional investors. On June 26, a surge of inflow s to the ProShares Bitcoin Strategy ETF (BITO) — a Bitcoin futures fund — was observed by Bloomberg senior ETF analyst Eric Balchunas. The fund had its largest weekly inflow in a year at $65.3 million with its assets topping $1 billion. BITO was the first BTC-linked ETF in the United States and is one of the most popular among institutional investors. Balchunas claimed BITO “pretty much has tracked Bitcoin perfectly,” lagging spot prices by 1.05% annually and has a fee of 0.95%. The Bitcoin Futures ETF $BITO had its biggest weekly inflow in a year as assets top $1b again. It also traded half a billion in shares on Friday, which it's only done about 5 time