{"id":420577,"date":"2026-02-24T16:09:52","date_gmt":"2026-02-24T10:39:52","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-investment-thesis-still-intact-despite-etf-exit-analysis-says-crypto-news\/"},"modified":"2026-02-24T16:15:10","modified_gmt":"2026-02-24T10:45:10","slug":"bitcoin-investment-thesis-still-intact-despite-etf-exit-analysis-says-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-investment-thesis-still-intact-despite-etf-exit-analysis-says-crypto-news\/","title":{"rendered":"Bitcoin Investment Thesis Still Intact Despite ETF Exit, Analysis Says. &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div data-testid=\"html-renderer-container\">\n<p data-ct-non-breakable=\"undefined\">Bitcoin (<a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/bitcoin-price\">BTC<\/a>) will see \u201cpurification\u201d as a new wave of institutional money stays long BTC for decades, says EMJ Capital founder Eric Jackson.<\/p>\n<p><strong>Key points:<\/strong><\/p>\n<ul>\n<li>\n<p>BTC has become a \u201chigh-beta tech position,\u201d thanks to ETFs and institutional involvement.<\/p>\n<\/li>\n<li>\n<p>Bitcoin ETF sellers will give way to longer-term institutional buyers, analysis predicts.<\/p>\n<\/li>\n<li>\n<p>Stablecoin supply needs to recover to upend the bearish trend.<\/p>\n<\/li>\n<\/ul>\n<h2>Bitcoin ETF moves \u201cnot a store of value\u201d<\/h2>\n<p>In an <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/ericjackson\/status\/2026173974044946511\" rel=\"noopener nofollow\" target=\"_blank\">X post<\/a> on Tuesday,  Jackson predicted more stable BTC price strength in the future despite the current <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/are-bitcoin-etfs-quietly-accumulating-or-just-not-selling-the-flow-data-that-matters\">institutional exodus<\/a>.<\/p>\n<p>\u201cBTC didn&#8217;t fail as an asset. It succeeded as an ETF. And that&#8217;s the problem,\u201d he summarized.<\/p>\n<p>The US spot Bitcoin exchange-traded funds (ETFs) continue to see <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/spot-bitcoin-etfs-five-weeks-net-outflows-3-8b\">regular net outflows<\/a>, compounding already weak price action and underscoring Bitcoin\u2019s bearish trend change that hit in October 2025.<\/p>\n<p>Jackson notes that currently, Bitcoin moves in lockstep with BlackRock\u2019s iShares Expanded Tech-Software Sector ETF (IGV). BlackRock also runs the world\u2019s largest spot Bitcoin ETF, the iShares Bitcoin Trust (<a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.ishares.com\/us\/products\/333011\/ishares-bitcoin-trust-etf#\/\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/www.ishares.com\/us\/products\/333011\/ishares-bitcoin-trust-etf#\/\">IBIT<\/a>).<\/p>\n<p>\u201cFrom $126K to $63K. Every time IGV sells off, BTC sells off with it. That&#8217;s not a store of value. That&#8217;s a high-beta tech position with a different logo,\u201d he continued.\u00a0<\/p>\n<blockquote data-ct-non-breakable=\"undefined\"><p>\u201cIBIT changed who owns Bitcoin.\u201d<\/p><\/blockquote>\n<figure><figcaption style=\"text-align: center;\"><em>IBIT hypothetical growth of $10,000 investment since launch (screenshot). Source: iShares<\/em><\/figcaption><\/figure>\n<p>In contrast to the 2021 bull market, institutions have become the \u201cmarginal buyer\u201d this cycle, while retail investors have piled into tech stocks. With gold hitting new all-time highs, Bitcoin is currently getting left behind \u2014 but that can and will change.<\/p>\n<p>Jackson is eyeing an end to the IGV sell pressure and the reemergence of stablecoin supply expansion on exchanges \u2014 an <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/biggest-trade-deal-ever-5-things-bitcoin-this-week\">important bullish trigger<\/a>.<\/p>\n<p>\u201cBut here&#8217;s what the bears are missing. Every cycle, the weak hands get filtered out. And every cycle, what replaces them is longer-duration capital,\u201d he explained.\u00a0<\/p>\n<blockquote data-ct-non-breakable=\"undefined\"><p>\u201c2017: retail sold at $20K. 2021: funds sold at $69K. 2025: ETF allocators are selling at $63K.\u201d<\/p><\/blockquote>\n<h2>Looking beyond Bitcoin\u2019s \u201cinstitutional exit\u201d<\/h2>\n<p>The new wave of institutional money in the years to come will have an entirely different ethos \u2014 one that is music to the ears of long-suffering BTC hodlers.<\/p>\n<p><em><strong>Related: <\/strong><\/em><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/hodlers-have-given-up-at-65k-five-things-bitcoin-this-week\"><em><strong>Hodlers have \u2018given up\u2019 at $65K: Five things to know in Bitcoin this week<\/strong><\/em><\/a><\/p>\n<p>\u201cWhat comes next? Sovereign wealth funds. Corporate treasuries. Pension capital. Money that doesn&#8217;t rebalance into quarters. Money that doesn&#8217;t correlate to IGV. Money that holds for decades, not cycles,\u201d Jackson forecast.\u00a0<\/p>\n<blockquote data-ct-non-breakable=\"undefined\"><p>\u201cThe institutional exit isn&#8217;t the end of the BTC thesis. It&#8217;s the purification of it.\u201d<\/p><\/blockquote>\n<figure data-ct-story-hidden=\"undefined\">    <img decoding=\"async\" alt=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c8efc-b036-75f6-aa9e-184a400cf19a.png\" title=\"\"\/><figcaption style=\"text-align: center;\"><em>US spot Bitcoin ETF netflows (screenshot). Source: Farside Investors<\/em><\/figcaption><\/figure>\n<p data-ct-non-breakable=\"undefined\">The latest data from UK-based investment company <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/farside.co.uk\/btc\/\" rel=\"noopener nofollow\" target=\"_blank\">Farside Investors<\/a> puts Monday\u2019s net Bitcoin ETF outflows at just over $200 million.<\/p>\n<p>BTC\/USD dipped under $63,000 on Tuesday, per data from TradingView, marking its lowest levels since <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-beats-ftx-covid-19-crash-record-dive-below-200-day-trend-line\">hitting 15-month lows<\/a> earlier in February.<\/p>\n<figure>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c8efd-f356-7dce-8795-9fc43561591a.png\" title=\"\"\/><figcaption style=\"text-align: center;\"><em>BTC\/USD one-hour chart. Source: Cointelegraph\/TradingView<\/em><\/figcaption><\/figure>\n<p>As <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-early-2024-buyers-steady-btc-price-as-trader-sees-52k-next-week\">Cointelegraph reported<\/a>, market participants have set new macro bottom targets nearer the $50,000 mark.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" data-ct-non-breakable=\"undefined\" label=\"Subscription Form: Markets Outlook\"\/><\/div>\n<p data-testid=\"post-category-disclaimer\"><!----><span class=\"[&#038;_a:hover]:no-underline [&#038;_a]:underline\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) will see \u201cpurification\u201d as a new wave of institutional money stays long BTC for decades, says EMJ Capital founder Eric Jackson. Key points: BTC has become a \u201chigh-beta tech position,\u201d thanks to ETFs and institutional involvement. Bitcoin ETF sellers will give way to longer-term institutional buyers, analysis predicts. Stablecoin supply needs to recover [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":420578,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-420577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/420577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=420577"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/420577\/revisions"}],"predecessor-version":[{"id":420579,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/420577\/revisions\/420579"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/420578"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=420577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=420577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=420577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}