Bitcoin fell to the $26,000 level after it hit above $28,000 on Sunday, yet markets remain bullish on both retail and institutional interest.
Bitwise is hoping to draw a retail market for its Bitwise 10 Index Fund, which it intends to list on a regulated alternative trading system later this year.
As institutions unload bitcoin, crypto’s traditional base – retail investors – is doing most of the buying, market participants said.
A key on-chain metric has witnessed solid growth over the past 12 months, possibly indicating steady accumulation of bitcoins by retail traders.