[Cryptoquant Founder: Bitcoin Bull Market Cycle Peak May Be Driven by Global Institutional and ETF Demand] Odaily Planet Daily News - Cryptoquant founder and CEO Ki Young Ju stated that the peak of Bitcoin's current bull market cycle might be driven by institutional funds outside the United States and ETF demand. He pointed out that deeper stablecoin liquidity and tokenized asset infrastructure will expand global market participation. Using South Korea as an example, Ki Young Ju noted that the country currently does not have a spot Bitcoin ETF, making it impossible for retail investors to purchase overseas-listed spot Bitcoin ETFs, and most companies are unable to open trading accounts to buy BTC. South Korea has gradually opened up corporate participation, with the Financial Services Commission (FSC) roadmap covering approximately 3,500 listed companies and qualified professional investors, though financial institutions and other enterprises remain excluded. Strategy's Bitcoin Bank used an index to evaluate 25 major institutions involved in trading, custody, digital asset products, financing, and corporate participation, with an overall adoption rate of 32%. As of August 29, RWA.xyz data showed that the global tokenized asset distributed asset value was $38.63 billion, an increase of 2.65% compared to 30 days prior. The Bank for International Settlements (BIS) stated that stablecoins have the potential to enable faster, programmable payments, but their current design may pose risks to financial integrity, liquidity, and monetary stability. Ki Young Ju highlighted that in the two years following the launch of U.S. spot Bitcoin ETFs, cumulative net inflows reached approximately $57 billion. The next phase will be global institutionalization, with more institutions adopting BTC as a strategic asset, and countries lacking ETFs will also improve related investment channels. (Bitcoin.com News)