According to online reports, CryptoQuant analysts found a significant increase in over-the-counter (OTC) trading activity on Coinbase Prime, indicating an increase in the amount of bitcoin that institutional investors have used OTC trading channels to accumulate. Ki Young Ju, CEO of CryptoQuant, explained: "When capital inflows from Coinbase Prime Brokerage Service, the preferred bitcoin purchase channel for U.S. institutions, increased significantly, it indicates that a variety of over-the-counter (OTC) transactions are currently occurring and institutions are more willing to conduct OTC transactions."