Du Jun: Due to frequent security incidents, many family offices have swapped their BTC for IBIT—and some have even liquidated all BTC positions to buy physical gold.

In a post on X, Du Jun noted that several family offices—which had previously allocated BTC and ETH based on his recommendations—have since swapped their BTC holdings for IBIT following incidents involving hacks of centralized exchanges and supply-chain security breaches affecting cold wallets. Some family offices have even liquidated their entire crypto portfolios in favor of traditional assets such as physical gold. Du Jun admitted he currently has no effective strategy to persuade these family offices to reconsider—and has yet to see any viable solutions.