Michael Saylor · South Korea · Bitcoin · U.S. · SEC · Bitcoin.com News
The U.S. Securities and Exchange Commission (SEC) approved spot bitcoin exchange-traded products in January 2024
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Institutional adoption already extends beyond direct bitcoin purchases and spot ETF holdings, although access and service offerings remain uneven.
Key facts
- As of Aug. 29, RWA.xyz’s Global Market Overview showed distributed asset value at $38.63 billion, up 2.65% from 30 days earlier
- His characterization follows rapid U.S. bitcoin ETF adoption, with spot funds accumulating about $57 billion in net inflows during their first two years
- South Korea has started allowing corporate participation in stages, and a Financial Services Commission (FSC) roadmap sets out a phase for about 3,500 listed companies and qualified professional
- Strategy’s Bitcoin Banking Adoption Index assessed 25 major institutions across trading, custody, digital asset products, financing, and corporate participation
Summary
Cryptoquant founder Ki Young Ju says bitcoin’s current bull cycle could peak as institutions and ETFs expand beyond the United States. The peak of bitcoin’s current bull cycle could be driven by institutional capital and exchange-traded funds (ETFs) outside the United States, according to Ki Young Ju, founder and CEO of Cryptoquant, a cryptocurrency market analytics platform. “The peak of this bull cycle will likely be driven by institutional money and ETFs outside the US.” He pointed to South Korea as an example of the barriers that remain outside the United States. Ju illustrated how widespread retail access could signal the cycle’s peak: “This cycle’s top might be when a banker at a regional bank in Korea recommends a spot bitcoin ETF to a granny for her savings.”