Swan Bitcoin CEO: Retail Investors Remain Critical to Bitcoin, ETF Outflows Hit $2.9B Since May 15

According to BlockBeats, on May 30, Swan Bitcoin CEO Cory Klippsten stated that retail investors remain crucial to Bitcoin's price trajectory despite institutional capital inflows. He argued that firms like BlackRock and Fidelity do not directly "own" Bitcoin; instead, ETF holders—predominantly retail investors—own Bitcoin through these vehicles. ETF issuers must purchase and custody actual Bitcoin in the spot market to fulfill underlying demand.

Since May 15, U.S. spot Bitcoin ETFs have recorded approximately $2.9 billion in net outflows, coinciding with a 9.5% price decline. The Crypto Fear and Greed Index stands at 23, signaling extreme fear among investors.