Cryptoquant Founder: Bitcoin Cycle Peak May Be Driven by Global Institutional and ETF Demand

Cryptoquant founder and CEO Ki Young Ju said the peak of Bitcoin's current bull cycle may be driven by institutional capital outside the U.S. and ETF demand. He noted that deeper stablecoin liquidity and tokenized asset infrastructure will expand global market participation. Citing South Korea as an example, Ki Young Ju said the country currently has no spot Bitcoin ETF, retail investors cannot purchase overseas-listed spot Bitcoin ETFs, and most companies cannot open trading accounts to buy BTC. South Korea has gradually opened corporate participation, with the Financial Services Commission (FSC) roadmap covering approximately 3,500 listed companies and qualified professional investors, but financial institutions and other businesses remain excluded. Strategy's Bitcoin bank adoption index assessed 25 major institutions spanning trading, custody, digital asset products, financing, and corporate participation, with an overall adoption rate of 32%. RWA.xyz data shows the distributed asset value of global tokenized assets stands at $38.63 billion, up 2.65% from 30 days ago. The Bank for International Settlements (BIS) stated that stablecoins have the potential to enable faster, programmable payments, but current designs may pose financial integrity, liquidity, and currency risks. Ki Young Ju noted that U.S. spot Bitcoin ETFs recorded cumulative net inflows of approximately $57 billion in the two years before listing, and the next phase will be global institutionalization, with more institutions adopting BTC as a strategic asset and countries lacking ETFs also improving related investment channels.