Bitcoin’s April Rally Driven By Institutions, While Retail Flees ETFs: Coinbase Exec

Bitcoin’s (BTC) breakout to $93,000 is being driven by deep-pocketed institutions, not retail exchange traded-fund (ETF) buyers, said Coinbase Institutional's John D’Agostino on CNBC.The rally began in early April, as institutional investors, and sovereign wealth funds quietly accumulated BTC with their "patient pools of capital" while retail investors were still pulling capital from spot ETFs.“Institutions, sovereigns, patient pools of capital were piling in,” he said. “Retail via the ETF were exiting source: https://www.coindesk.com/markets/2025/04/24/bitcoin-s-april-rally-driven-by-institutions-as-retail-flees-etfs-coinbase-exec