CryptoQuant Founder: The Peak of This Bitcoin Bull Market May Be Driven by Institutional Capital and ETFs Outside the U.S.

TechFlow reports on August 30 that, according to Bitcoin.com, CryptoQuant founder and CEO Ki Young Ju stated that the peak of this Bitcoin bull market may be driven by institutional capital and ETF demand outside the United States. He believes that current Bitcoin adoption is primarily driven by the US market, and the next phase may shift toward global institutionalization, accompanied by deeper stablecoin liquidity and the development of RWA infrastructure.

Ki Young Ju cited South Korea as an example, noting that the country currently has no spot Bitcoin ETF, retail investors are unable to purchase overseas-listed spot Bitcoin ETFs, and most enterprises still cannot buy BTC through exchange accounts. He anticipates that more institutions will hold BTC as a strategic asset in the future, while nations that currently lack ETFs will gradually enhance their investment channels.

Ki Young Ju stated that when local Korean bank staff begin recommending spot Bitcoin ETFs to elderly depositors, it may indicate that this cycle is nearing its peak.