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$BTC Swan Bitcoin CEO: Retail investors remain crucial to Bitcoin, with ETF capital outflows reaching $2.9 billion since May 15. According to BlockBeats, on May 30, Swan Bitcoin CEO Cory Klippsten stated that despite continuous institutional capital inflows, retail investors still play a vital role in Bitcoin's price movement. 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 underlying demand. Since May 15, U.S. 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 investors are in a state of extreme fear.