Well, remember they can hedge (where hedge funds get their name) by selling paper btc with their enormous fiat bags, with the ostensible rationale of limiting their market exposure in any one direction.
If you haven't had the chance yet, read this great article by Allen Farrington
:https://allenfarrington.medium.com/trust-me-bro-fb5a25964634

siggy47

bitcoin

ETF pressure

crrdlx

Yes. This is exactly what I'm saying. The numbers involved with an ETF are very, very different. Who knows how much of these numbers will be interested in a bitcoin ETF. But, the ease of anyone with an etrade account or any account to "get in" to bitcoin is formidable in my view. And those folks would be miniscule compared to institional money. Yes, it's not truly owning BTC because it's custodial holding, but the custodian must buy the BTC. Buy pressure.