Bitcoin's best and newest large buyer has no face, no investment committee, and no public opinion about whether the price looks cheap. It appears near the end of the US trading day as an entry beside an ETF ticker, and on Aug. 27 that entry showed $277.
Source: [CryptoSlate](https://cryptoslate.com/the-63-billion-revolving-door-carrying-the-entire-us-bitcoin-etf-market/)