Grayscale CEO Peter Mintzberg said the crypto winter is easing after Bitcoin rose about 20% last week in its strongest three-day rally since 2023. He argued that the market should focus less on short-term rebounds or selloffs and more on the longer-term integration of digital assets into mainstream finance. Bitcoin ETP daily flow volumes in 2025 have often exceeded $500 million, about 12 times the value of newly mined Bitcoin each day. U.S. spot Bitcoin ETPs, which had recorded eight consecutive weeks of net outflows earlier this year, had returned to three straight weeks of net inflows by late July. An EY survey of more than 350 institutional investors found that 73% planned to increase their digital-asset allocations.