closed-end funds

According to reports, data tracked by ByteTree Asset Management shows that 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 16560 BTC ($409 million) this month, reaching a 17-month low of 826113 BTC. The decline in fund balances indicates a lack of institutional participation in Bitcoin’s recent rise. The Chief Investment Officer of ByteTree Asset Management said that the global wealth management industry is very light in terms of Bitcoin and gold. Data: Bitcoin held by the fund has fallen to its lowest level since October 2021 Analysis based on this information:The recent surge in bitcoin’s value has left investors and analysts alike in tumultuous states of speculation. While some believe this sudden rise is momentary, others see it as the beginning of the digital asset’s mainstay in the financial market. Nonetheless, a report from ByteTree Asset Management released last month revealed…