Sovereign wealth funds piling into BTC as retail exits — Coinbase exec
John D’Agostino, head of strategy at Coinbase Institutional, compared BTC to gold and said many traders view it as an inflationary hedge. Sovereign wealth funds and other institutions were accumulating Bitcoin (BTC) during April 2025, while retail traders were exiting the markets via exchange-traded funds (ETFs) and spot markets, according to John D’Agostino, the head…