Du Jun: Some Family Offices Converted BTC to IBIT Following Exchange and Cold Wallet Security Incidents, While Others Shifted to Physical Gold

According to TechFlow, on October 30, Du Jun said that some family offices he had previously recommended to allocate to BTC and ETH have gradually converted their BTC into the BlackRock Bitcoin Spot ETF (IBIT) after experiencing centralized exchange thefts and cold wallet supply-chain security incidents. Some other institutions have directly sold their crypto assets and moved into traditional assets such as physical gold. He said that it is now even difficult to find effective ways to persuade these institutions to continue holding crypto assets.

Source: TechFlow