Deutsche Bank analyst: The majority of funds for spot Bitcoin ETFs come from retail investors

A survey by Deutsche Bank of 2,000 retail investors found that only about 15% believe Bitcoin will rise to between $40,000 and $75,000 this year. Those skeptical of cryptocurrencies have not changed their attitudes despite the ability to invest in Bitcoin through exchange-traded funds (ETFs). Data from FactSet shows that since the launch of a Bitcoin spot ETF on January 11th, Bitcoin has fallen by about 20%, to around $39,000. Additionally, over half of the participants stated that they believe "major cryptocurrencies" will completely collapse within the next two years. Deutsche Bank stated that 39% of survey participants believe Bitcoin will continue to exist in the coming years, while 42% expect it to disappear. Marion Laboure, an analyst at Deutsche Bank's London branch, said in a report that so far institutions have been slow in incorporating this new fund into their portfolios and retail investors are also not fully convinced they need to do so. The report also states that most of the funds for ETFs come from retail investors.