Gate News update, on April 13, Exodus CEO JP Richardson said that this year financial institutions are accelerating their participation in the cryptocurrency market, including stablecoin market cap hitting a record high, Morgan Stanley launching a Bitcoin ETF, Schwab opening a spot Bitcoin trading waitlist, Franklin Templeton establishing a cryptocurrency division, and Fannie Mae accepting Bitcoin-backed mortgage loans. Unlike previous cycles, institutional investors have stood out in this bull run, while retail investors have sharply reduced their participation. CryptoQuant analyst Darkfost’s data shows that on a certain CEX platform, the inflow of funds into small accounts holding less than 1 BTC has hit a record low, with retail activity falling to the lowest level in nine years. Some retail investors have shifted to stock and commodity markets. Analysts believe that the main reasons retail investors are absent are the cost-of-living crisis and inflationary pressure.
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