Institutional Investment in Bitcoin: A Slow but Steady Process

Adam Back, CEO of Blockstream, has provided valuable insights into the current state of Bitcoin adoption. In a recent statement, he highlighted that institutional investment in Bitcoin is slower than expected.

The entry of Morgan Stanley into the US spot Bitcoin ETF market earlier this month was seen as a catalyst to end the current crypto bear market by some observers. However, Back believes that the process of building positions may take longer than anticipated.

According to Back, institutional investors do not rush in overnight and require time to build their positions. He noted that when BlackRock recommends an allocation of 2% to 4% in its general equity portfolios, fund managers still need time to implement these changes.