Part 3/17:
This broad participation indicates that corporate and institutional interest in Bitcoin is gathering pace, with top allocations averaging around 5.6% among the largest buyers. Such flows, even if modest in dollar terms (around $900 million), can have a multiplier effect—with estimates suggesting a 105x multiplier on ETF inflows driving Bitcoin’s price upward. The implication is that ETF flows are a significant driver of recent price strength and could catalyze further gains as institutional adoption scales.