James Van Straten, senior analyst at CoinDesk, said: Wealth management clients of Wall Street banks such as Goldman Sachs, Bank of America and Morgan Stanley continued to enter the crypto market through spot Bitcoin ETFs in the third quarter. Given the sharp rise in cryptocurrency prices after the US presidential election last week, there may be a surge in FOMO in the fourth quarter.

The analyst said: "The 13F filing reflects that most institutions are slow to deploy capital and observe trends, and did not take the initiative to act before the fourth quarter (historical bull market). But due to the election of Donald Trump, who is friendly to cryptocurrencies, and the breakthrough of Bitcoin, I expect wealth managers to make a lot of efforts to ensure that institutions get at least 1% allocation".