ByteTree data: The number of bitcoins held by funds has fallen to its lowest point since October 2021

ChainCatcher news, data tracked by ByteTree Asset Management shows that this month, the number of tokens held by closed-end funds and exchange-traded funds (ETFs) focused on spot and futures in Europe, the United States, and Canada decreased by 16,560 BTC (approximately $409 million), now totaling 826,113 BTC, reaching a 17-month low. The decline in fund balances indicates a lack of institutional participation in the recent rise of Bitcoin prices. The decrease in fund holdings suggests a lack of institutional involvement in Bitcoin's recent surge, but it does not necessarily mean that the price rebound is weak and unsustainable; there are other sources of demand pushing prices higher. (CoinDesk)