According to Matt Hougan, a significant supply and demand imbalance has developed for Bitcoin (BTC) since the introduction of spot ETPs in January 2024. The analysis points out that ETPs and corporate treasuries have purchased 1.5 million BTC in that timeframe. In contrast, the Bitcoin network has only produced 300,000 new BTC. This indicates that demand from these entities is five times greater than the new supply being mined, which is a key bullish fundamental for traders to consider.

According to André Dragosch, PhD (@Andre_Dragosch), major institutional investors in Europe are preparing to enter the Bitcoin ETP (Exchange-Traded Product) market. This development signals a strong influx of institutional capital into BTC, potentially driving significant price appreciation in the current market cycle. Traders should closely monitor European ETP volume and institutional inflows as key indicators for Bitcoin price momentum and volatility. Source: André Dragosch on Twitter, June 18, 2025.

According to Eleanor Terrett, New Hampshire has become the first U.S. state to enact a law permitting its treasurer to purchase Bitcoin as a strategic reserve, either directly or via an exchange-traded product (ETP) (source: Eleanor Terrett, May 6, 2025). This development establishes a precedent for institutional crypto adoption at the state level and signals growing governmental trust in Bitcoin as a store of value. Crypto traders may see increased legitimacy and potential price support for Bitcoin as other states or entities could follow New Hampshire's lead, potentially boosting institutional demand and market liquidity.

According to BitMEX Research, investors purchasing MicroStrategy shares at a premium are facing challenges due to regulatory restrictions preventing them from directly investing in Bitcoin ETPs. The analysis suggests that Michael Saylor's strategy of purchasing Bitcoin through MicroStrategy is sound, highlighting the regulatory environment as a significant factor in market behavior.