'There is little doubt that the institutional flow impulse int | LibreCharts
"There is little doubt that the institutional flow impulse into bitcoin is what distinguishes 2020 from 2017. And there is no better metric to capture this institutional impulse than the flow trajectory of the Grayscale BItcoin Trust [...] This is because many institutional investors are only allowed to prefer to invest in bitcoin in fund format for regulatory or other reasons. In fact, many of them are not even allowed to hold restricted shares of the Grayscale Bitcoin Trust via private placements given the 6-month lock up period, and are thus forced to pay a premium by buying these shares in the secondary market."
URL = https://www.tbstat.com/wp/uploads/2021/01/JPM_Flows__Liquidity_2021-01-04_3601705.pdf (JP Morgan report from January 2021)
