The sentiment of institutional and large capital investors has been bullish for months now.in circulation has not moved in over a year. The figure represented a one-year all-time high in both relative and absolute terms.During the crypto winter of 2022, investors held on to around 70% of the total BTC supply.Nearly 8,000 BTC is live on over-the-counter exchanges, registering an impressive rise of 60% this quarter. ARK uses OTC as an index to monitor institutional investment activity.
As we can see, the sentiment of institutional and large capital investors has been bullish for months now. The report, on its part, mentioned, “In our view, increased balances on OTC desks suggest that institutions and other large capital allocators are focused increasingly on Bitcoin.”, one of the largest BTC trust firms catering to large investors. GBTC’s discount to net asset value hit 30% in June 2023.It means that the share price of GBTC is 30% lower than the price of the underlying asset, i.e., BTC. Again, the discount is the lowest in nearly one year.
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