I think a lot of the advisor platforms aren't even unlocked yet. They have 60-90 day windows. I read a couple of them were moving up their timelines so maybe that is some of the surge we have seen recently. 

grayruby

Grayscale investors also has to finish dumping.  Are they done?

I'll hazard a guess that we'll see an S-curve adoption pattern. So, it might continue accelerating for a bit, hit an inflection point, and taper off.

I also think if/when the US hits a severe downturn we'll see a rapid dump.

Undisciplined

agreed, ETF holdings will continue to rise. not sure if it will continue to be this fast though.

charts

Blackrock Already Holds 180,000+ BTC

I would wager that most people who have the option to buy a bitcoin ETF through their retirement account don't even know they have that option yet. Three months is a very short time period.