In an era of swift market shifts and evolving trends, Jeff Dyment of Saphira Group urges investors to take a broad view of institutional bitcoin (BTC) adoption. Despite recent data suggesting a slowdown in BTC purchases by institutions, Dyment contends that this is merely a temporary ebb in a larger wave of growth. He argues that the apparent drop in demand is but a fleeting moment in an ongoing cycle of increasing engagement by major players.
Institutional Momentum: Beyond the Charts
Dyment’s perspective challenges the surface-level analysis that focuses on short-term fluctuations. He points to the dramatic increase in corporate BTC treasuries, which saw 51 new entrants in the first half of 2025 alone—matching the total from the previous four years combined. Public companies now possess around 848,902 BTC, representing approximately 4% of the entire supply. Furthermore, Q2 2025 witnessed an influx of 131,000 BTC onto corporate balance sheets, emphasizing the sustained interest from big business. This aligns with discussions on whether Bitcoin ETFs can replace bonds in institutional portfolios, highlighting the evolving role of BTC in traditional finance.
One can’t ignore the explosive growth of Bitcoin ETFs as a testament to institutional enthusiasm. BlackRock’s IBIT fund, a behemoth in the ETF world, now controls an impressive 699,000 BTC, equating to over 3.3% of the total supply. This fund has set records as the fastest-growing ETF in history. Collectively, U.S. spot ETFs have amassed approximately 1.25 million BTC—about 6% of the supply—since their debut just 18 months ago. This trend is further explored in our recent article on Bitcoin ETFs Notching 13 Consecutive Days of Inflow, underscoring their growing importance.
Options Market Signals and Institutional Appetite
Adding weight to Dyment’s thesis, QCP Capital’s recent insights indicate that whales continue to hedge their bets on BTC. They’ve been busy acquiring September $130K BTC calls and maintaining $115K/$140K call spreads. “Vols remain pinned near historical lows,” QCP noted, yet a breakthrough past the $110K mark could ignite a fresh wave of volatility.
While some skeptics highlight the sluggish spot flows and the nearly deserted mempool as signs of fatigue, Dyment sees these as mere surface ripples. He believes the real story is the underlying, growing interest from Wall Street, which is gradually positioning itself for deeper involvement in the crypto space.
Quantum Security and the Future of Stablecoins
In related news, BTQ Technologies is forging a path towards quantum-safe stablecoin frameworks with its Quantum Stablecoin Settlement Network (QSSN). This initiative aims to safeguard stablecoin issuance against the looming threat of quantum computing. By integrating dual cryptographic signatures, BTQ plans to future-proof stablecoins like JPMorgan’s USD deposit token while maintaining compatibility with existing standards.
As the stablecoin market exceeds $225 billion, regulatory focus intensifies. The GENIUS Act, progressing through the U.S. Congress, seeks to establish federal standards for fiat-backed stablecoins, with an emphasis on quantum-safe infrastructures. BTQ’s collaboration with NIST positions it as a pivotal player in shaping these emerging standards.
Market Movements: A Snapshot
Meanwhile, the crypto market reflected its characteristic volatility. Bitcoin took a 1.02% dip recently, testing key support levels, only to bounce back sharply. Ethereum navigated a 1.67% rise amid turbulent trading, driven by robust institutional inflows and significant volume spikes. Outside crypto, gold experienced fluctuations due to currency dynamics and tariff-driven safe-haven demand, while stock markets reacted to new import tariffs from the U.S.
The narrative of institutional BTC adoption is not without its complexities and uncertainties. The question remains: Will this trend continue its upward trajectory, or are we witnessing a plateau? As ever, the crypto market keeps us on our toes—filled with potential and unpredictability.
Source
This article is based on: Asia Morning Briefing: BTC’s Institutional Waves Are Building, Not Breaking
Further Reading
Deepen your understanding with these related articles:
- Public Companies Buy More Bitcoin Than ETFs for Third Consecutive Quarter
- Bitcoin CME Futures Premium Slides, Suggests Waning Institutional Appetite
- Why On-Chain Metrics Miss the Full Picture of Institutional Bitcoin Buying
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
