Asia Morning Briefing: Institutional Interest in BTC Continues to Swell Rather Than Subside

Institutional Bitcoin Adoption Grows in Waves, Says Saphira’s Dyment, Even as Market Wobbles

Despite recent market jitters and cooling demand indicators, institutional interest in bitcoin remains firmly on an upward trajectory, says Jeff Dyment, fund manager at Saphira Group.

In a note shared with CoinDesk, Dyment cautioned investors against fixating on short-term fluctuations that suggest institutional buying is losing steam. While it’s true that large purchases have slowed — Michael Saylor’s Strategy added only 16,000 BTC last month compared to a record 171,000 BTC haul in December — Dyment argues this reflects natural cycles, not waning interest.

“Institutional flows typically arrive in waves rather than following a straight, linear path,” Dyment wrote. “Short-term spot market swings are minor ripples atop a rising tide of institutional involvement.”

Backing his view, Dyment pointed to several bullish data points:

New Corporate Treasuries: 51 new corporate treasuries added BTC holdings in H1 2025, matching the total number added across 2018–2022 and marking a 375% increase in corporate bitcoin buying year over year.
Public Company Holdings: Public firms now collectively hold 848,902 BTC, approximately 4% of bitcoin’s total supply. In Q2 2025 alone, they added 131,000 BTC to balance sheets.
ETF Growth: Bitcoin ETFs continue their meteoric rise. BlackRock’s IBIT fund has become the world’s largest ETF, amassing 699,000 BTC (over 3.3% of total supply) and securing its title as the fastest-growing ETF in history. Altogether, U.S. spot bitcoin ETFs now hold about 1.25 million BTC — roughly 6% of the total supply — just 18 months since launching.

Further support for Dyment’s thesis comes from the options markets. Singapore-based QCP Capital reported that whales remain active, purchasing September $130,000 BTC calls and holding $115,000/$140,000 call spreads.

“Volatility remains near historical lows, but a solid break above $110,000 could trigger fresh demand for volatility,” QCP said in a Monday note.

So while skeptics point to declining spot flows and a thin mempool as evidence of flagging demand, Dyment sees only temporary ripples. Underneath, he argues, institutional interest is steadily rising, fueled by Wall Street’s massive capital pools waiting for opportunities to enter the crypto space.

BTQ Launches Quantum-Safe Framework for Stablecoins

Meanwhile, in the stablecoin sector, BTQ Technologies unveiled its Quantum Stablecoin Settlement Network (QSSN) on Monday — a new infrastructure designed to protect stablecoin ecosystems from potential threats posed by quantum computing.

BTQ says QSSN could support quantum-secure versions of major stablecoin models, such as JPMorgan’s proposed USD deposit token (JPMD). The system would enhance critical operations like minting and burning using dual cryptographic signatures (ECDSA alongside Falcon-512) while maintaining compatibility with current token standards, workflows, and wallets.

The announcement arrives as the stablecoin market swells beyond $225 billion and regulators push for cybersecurity measures.

The GENIUS Act, currently moving through U.S. Congress, seeks to establish federal standards for fiat-backed stablecoins and encourages the adoption of quantum-resistant cryptography.

BTQ, which has collaborated with NIST for over a decade, aims for QSSN to become a key part of this evolving regulatory and technological landscape.

Market Movements

Bitcoin (BTC): BTC fell 1.02% between July 6 at 22:00 UTC and July 7 at 21:00 UTC, briefly testing support around $107,519.64 amid heavy selling. It then staged a sharp rebound from $107,800 as on-chain data identified strong support levels at $106,738 and $98,566, collectively held by 1.68 million addresses, per CoinDesk Research’s technical analysis bot.
Ethereum (ETH): ETH rose 1.67% during a volatile session, fluctuating nearly 3% between $2,529 and $2,604. Solid support at $2,530 held firm, while institutional inflows topped $1.1 billion, driving volume spikes during both rallies and pullbacks.
Gold: Gold initially dipped on dollar strength but rebounded on safe-haven demand driven by new tariffs, with central bank buying and global de-dollarization trends underpinning predictions for prices potentially reaching $4,000.
S&P 500: U.S. stocks declined on Monday as former President Donald Trump announced new tariffs on imports from seven countries, sending the S&P 500 down 0.79% to close at 6,229.98.
Nikkei 225: Despite geopolitical tensions, Asia-Pacific markets mostly rose, with Japan’s Nikkei 225 gaining 0.36% even as Trump proposed tariffs of up to 40% on imports from countries like South Korea, Indonesia, and Thailand.