{"id":23491,"date":"2025-04-24T05:46:42","date_gmt":"2025-04-24T05:46:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=23491"},"modified":"2025-04-24T05:46:42","modified_gmt":"2025-04-24T05:46:42","slug":"bitcoins-april-rally-driven-by-institutions-while-retail-flees-etfs-coinbase-exec","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=23491","title":{"rendered":"Bitcoin\u2019s April Rally Driven By Institutions, While Retail Flees ETFs: Coinbase Exec"},"content":{"rendered":"
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Bitcoin\u2019s (BTC) breakout to $93,000 is being driven by deep-pocketed institutions, not retail exchange traded-fund (ETF) buyers, said Coinbase Institutional’s John D\u2019Agostino on CNBC<\/a>.<\/p>\n

The rally began in early April, as institutional investors, and sovereign wealth funds quietly accumulated BTC with their “patient pools of capital” while retail investors were still pulling capital from spot ETFs.<\/p>\n

\u201cInstitutions, sovereigns, patient pools of capital were piling in,\u201d he said. \u201cRetail via the ETF were exiting. So you\u2019ve got to ask yourself, what do the institutions know?\u201d<\/p>\n

That institutional conviction is now being formalized<\/a>. Earlier this week, Strike CEO Jack Mallers and Cantor Fitzgerald\u2019s Brandon Lutnick unveiled Twenty One Capital, a new bitcoin investment company backed by Tether, Bitfinex, and SoftBank.<\/p>\n

The company will launch with more than 42,000 BTC and is expected to trade publicly under the ticker \u201cXXI\u201d after merging with Cantor Equity Partners, a $200 million SPAC.<\/p>\n

D\u2019Agostino has a three-part thesis as to why this is happening. First is de-dollarization: sovereigns and institutions reduce USD exposure as trade weakens. Second, decoupling from tech: Bitcoin shedding its Nvidia-adjacent identity. Third, hedge basket theory: Bitcoin ranks in the top five in inflation hedge models used by veteran commodities traders.<\/p>\n

“Bitcoin is trading on its core characteristics, which again are similar to gold. You’ve got scarcity, immutability, and non-sovereign asset portability,” he continued. “So it’s trading the way people who believe in Bitcoin would like it to trade.”<\/p>\n

Meanwhile, major altcoins like ether (ETH), Solana’s SOL, and Cardano’s ADA have yet to make similar technical moves. The CoinDesk 20 (CD20)<\/a>, a measure of the performance of the world’s largest digital assets, is down 3% over the last month while BTC is up 7%<\/a>.<\/p>\n

This recent move in prices might have pushed back up retail interest in BTC ETFs. Data from SoSoValue<\/a> put ETF inflow over $900 million for the second day in a row for Wednesday, putting ETF inflow over $2.2 billion between April 21 and 23. There were 9 days in this month where Bitcoin ETFs saw net outflows, totaling approximately $1.21 billion<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s (BTC) breakout to $93,000 is being driven by deep-pocketed institutions, not retail exchange traded-fund (ETF) buyers, said Coinbase Institutional’s John D\u2019Agostino on CNBC. The rally began in early April, as institutional investors, and sovereign wealth funds quietly accumulated BTC with their “patient pools of capital” while retail investors were still pulling capital from spot […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-23491","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/23491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23491"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/23491\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}