Institutional appetite for Bitcoin shows no signs of slowing down. When you look at custody wallets across the US, most institutional players are sitting on somewhere between 100 to 1,000 BTC per wallet. Strip out the exchange reserves and mining operations, and you get a clearer picture of what's actually driving demand from institutions.

Here's what caught attention: over the past twelve months, these custody wallets accumulated 577K Bitcoin—roughly $53 billion worth. And it's not stopping. The inflow continues, with ETF products playing their part in channeling this capital. The numbers suggest institutional capital still sees Bitcoin as a compelling asset class, despite volatility and macro headwinds.