The study shows that institutional investors are showing genuine conviction in bitcoin as an asset class.
These same institution have not only been showing interest, rather they have been investing, only that some people are not getting it right, whereby these same intuitions are bitcoin investors, while individuals interested in bitcoin are going through some of these same institutions to invest in bitcoin ETF instead of them investing in bitcoin itself, so i want to believe now that the spotlight has been more obvious, that they are now considering bitcoin more than the anticipation for bitcoin ETF in some cases.
The research is about bitcoin ETF and not bitcoin itself but I think they are right and it can be related to bitcoin directly.
Though many have been mistaken bitcoin for Spot bitcoin ETF and they have to understand the difference before drawing most of their conclusions on them, having little idea on what ETF talks about, i thing this article will definitely go a long way in clarifying more about this aspect also.