$BTC Swan Bitcoin CEO: Retail investors remain crucial to Bitcoin, with ETF capital outflows reaching $2.9 billion since May 15th.


According to BlockBeats, on May 30th, Swan Bitcoin CEO Cory Klippsten stated that despite continuous institutional capital inflows, retail investors are still vital to Bitcoin's price movements.
He believes that companies like BlackRock and Fidelity do not directly "own" Bitcoin; instead, ETF holders—primarily retail investors—hold Bitcoin through these instruments.
ETF issuers must purchase and custody actual Bitcoin in the spot market to meet the underlying demand.
Since May 15th, US spot Bitcoin ETFs have experienced a net outflow of approximately $2.9 billion, coinciding with a 9.5% price decline.
The crypto fear and greed index is at 23, indicating that investors are in a state of extreme fear.
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