Thomas Perfumo, head of strategy at Kraken, expects inflows into cryptocurrency ETFs to double to $50 billion by 2025. He says "ultimate allocators" such as sovereign wealth funds, endowments and pension funds will come in next year, with big asset managers already considering allocating 1-3 per cent of their portfolios to crypto assets. According to the data, the total amount of bitcoin held by 11 bitcoin ETF issuers has exceeded 90 billion US dollars, accounting for more than 5% of the total bitcoin supply. The addition of mainstream asset managers such as BlackRock and Fidelity has also increased the market acceptance of cryptoassets while reducing investment costs and risks.