#机构比特币投资# Looking back at the market fluctuations over the years, institutions' investment attitudes towards Bitcoin have been quite mixed. I just saw CoinShares' latest weekly report, which noted a net inflow of $3.75 billion into digital asset investment products last week, marking the fourth highest in history. This reminds me of the bull run in 2017, when institutions were still observing while retail investors were already going crazy. Now the situation has completely reversed, with institutions becoming the market makers.

Interestingly, Ethereum has surprisingly become the biggest winner this time, attracting $2.87 billion, accounting for a staggering 77%. Back in the day, Bitcoin was the sole leader, but now it has to cede half its territory. Does this mean that institutions have more confidence in smart contract platforms? Or is it simply a pursuit of short-term gains?

Regardless, the total asset management has surpassed a historical high of $244 billion, which is enough to prove that institutional enthusiasm for the crypto market is rising. However, we must also be cautious, as excessive hype may trigger a bubble. History always repeats itself, just with different protagonists each time. What we need to do is learn lessons from this cycle and prepare for the next one. After all, the market is never short of new retail investors, but what it lacks are the resilient veterans.