@EricBalchunas: “Bitcoin ETFs collectively have over 1,000 institutional holders after just two 13F periods. That's beyond unprecedented. IBIT alone has 661 holders with 20% of its shares reported held by institutions and large advisors, likely headed to 40% in next 12mo IMO. How weird is this? For example, take an ETF at random- say a $7m ETF launched last Dec. It has TWO holders and they only own 0.03% of the fund. Not to dump on that ETF (bc that's normal) but more to point out how the bitcoin ETFs are freaks of nature, an anomaly in physics.”