The post Sygnum Bank Explains Bitcoin’s Institutional Maturity as Wall Street Turns It Into Portfolio Plumbing appeared on BitcoinEthereumNews.com.

Sygnum Bank Chief Investment Officer Fabian Dori argues that daily Bitcoin ETF flow tracking misses the structural shift happening underneath. The Swiss digital asset bank’s top investment officer said the real story is not whether funds move in or out on a given day. Instead, it is that pensions, endowments, sovereign funds, and insurers now treat BTC as a standard portfolio component. Wall Street Builds Bitcoin Plumbing Dori pointed to three recent developments as evidence. First, JPMorgan’s research desk projected institutional Bitcoin ETF inflows could reach $15 billion in a conservative scenario and $40 billion in a constructive one for 2026. That projection sits on top of the $56.6 billion the spot Bitcoin ETF complex absorbed in 2025. Second, JPMorgan has begun issuing structured notes linked to BlackRock’s iShares Bitcoin Trust ETF (IBIT). Dori described this as infrastructure, not a trade idea, calling it “plumbing” that signals permanent integration. Third, Morgan Stanley Investment Management launched MSBT, its own spot Bitcoin ETF, recording roughly $34 million in first-day trading volume. That figure placed the fund in the top 1% of recent ETF debuts. Rebalancing Mechanics Distort the Signal Dori argued that much of what appears as ETF selling is actually portfolio rebalancing. When BTC rallies, a 2% allocation grows to 4%, and disciplined allocators trim. Those sales register as outflows on daily trackers but reflect normal portfolio management. He cited IBIT’s record $2.7 billion outflow streak in December 2025 as an example. Four months later, with BTC down roughly 30% year to date, the same fund pulled in another $1.5 billion in net inflows. $IBIT is the only ETF on the 2025 Flow Leaderboard with a negative return for the year. CT’s knee-jerk reaction is to whine about the return but the real takeaway is that is was 6th place DESPITE…

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Filed under: News - @ April 16, 2026 11:28 am