Retail Bitcoin Demand Still Matters, Swan CEO Says

Cory Klippsten, CEO of Swan Bitcoin, said retail sentiment remains as important now as when Wall Street was largely on the sidelines. "It still does. You have to remember it's not like BlackRock owns the Bitcoin and Fidelity owns the Bitcoin. It's a bunch of retail accounts mostly that actually buy that," he said.

"You know they're buying it in a wrapper. But they still have to take real supply and custody it. And it comes out of the supply. So, you know, it's still it is real demand in ETFs," Klippsten added. "There are some paper products and futures and things like that that are weird and take a little while to kind of work through the system.

There is something to the idea that there is more supply in certain ways. But at the end of the day, if you want real on-chain Bitcoin, the fact that you can get it is what makes Bitcoin unique." US-based spot Bitcoin ETFs posted a combined $2.90 billion in net outflows since May 15, while Bitcoin slid approximately 9.5% over the same period.

United States

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