CryptoQuant CEO: Institutional demand for Bitcoin allocation through custody services is rising

CryptoQuant CEO Ki Young Ju stated in a post that there is an increasing demand from institutions for Bitcoin custody wallets. In the past year, US spot ETFs have seen a net inflow of 278,000 bitcoins (about 80% of which are retail funds), while large wallets (holding more than 1,000 bitcoins, excluding exchanges and mining pools) have seen a net inflow of 670,000 bitcoins, indicating that the scale of institutions configuring Bitcoin through custody services is about 2.4 times that of the ETF channel.

Ki Young Ju added that these whale wallets are a superset of custody wallets. Since most ETF wallets hold less than 1,000 bitcoins, these data can better reflect the actual situation of custody wallets. He also pointed out that more detailed data is needed to gain deeper market insights.