Bitwise CIO: Institutional Bitcoin ETF holdings remained relatively stable during a 50% drawdown.

PANews reported on March 16th, citing CoinDesk, that Bitwise CIO Matt Hougan stated that from the launch of the Bitcoin spot ETF in January 2024 to October 2025, the ETF saw a cumulative net inflow of approximately $60 billion. Although the price of Bitcoin subsequently fell by about 50%, the net outflow of ETF funds was less than $10 billion, indicating that institutional investors generally maintained their positions. He stated that Bitcoin is currently still a "non-consensus asset," and institutional allocation faces professional risks. Therefore, institutions often need to reach a high degree of confidence (80%-90%) before entering the market, making funds more "sticky" during periods of high volatility. Based on this, he reiterated his long-term judgment: if the global "store of value" market expands as it has over the past 20 years, and Bitcoin only accounts for a small portion of this, the price of Bitcoin could potentially reach $1 million within 10 years.