Bitcoin (BTC), the biggest digital asset, saw a major halt in its bullish chance to regain the $70,000 level. BTC’s price dropped by over 2% in the last 24 hours dragging it back to the $67,000 zone.

In the last five trading days, spot bitcoin ETFs have seen net inflows of more than $2.1 billion, with BlackRock accounting for half of those sales. Of the 80% of direct investors buying IBIT, BlackRock's chief investment officer of ETFs and index investments says 75% had never before owned an iShare.

Wood believes institutional investors will allocate about $6 trillion to Bitcoin by 2030, while Chhugani at Bernstein estimates a slightly more conservative $3 trillion by 2033. For context, spot Bitcoin ETFs have accumulated $63 billion in assets, which is about 1% of Wood's prediction and 2% of Chhugani's prediction.

With the SEC's approval of options for spot Bitcoin ETFs, analysts expect another wave of institutional adoption and associated volatility.

Impressively,7, BlackRock's IBIT amassed net inflows of $309 million, bringing the net US Bitcoin ETFs inflow to over $470 million.