According to Deep TechFlow, on April 30, The Block reported that Bitwise Chief Investment Officer Matt Hougan stated that four major financial institutions—Merrill Lynch, Morgan Stanley, Wells Fargo, and UBS Group (managing over 10 trillion USD in client assets)—are expected to fully support Bitcoin ETF products by the end of this year. Although Bitcoin ETFs' fund inflows at the beginning of this year have not matched those of the same period in 2024 (attracting only about 4 billion USD so far, compared to 11.80 billion USD last year), Hougan still predicts that 2025 will set a new record for net fund inflows. He pointed out that institutional participation is comprehensively increasing—nine out of the world's top ten hedge funds already hold Bitcoin, including institutional investors such as Emory University and the Texas Teachers Retirement System, as well as large asset management companies like BlackRock entering the market. These factors will drive more investors into the Bitcoin market.