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It is expected that approximately 4,158 BTC will be transferred to each ETF custody address after the U.S. stock market opens.

It is expected that approximately 4,158 BTC will be transferred to each ETF custody address after the U.S. stock market opens.

CointimeCointime2024/02/07 12:40
By:Cointime

Blockchain analyst Yu Jin wrote that based on the fund flow of BTC spot ETF on February 6th, it is expected that after the opening of the US stock market on February 7th, there will be a transfer of about 4,158 BTC (approximately 179 million US dollars) in various ETF custody addresses. Among them, the custody address of Grayscale (GBTC) will flow out about 1,688 BTC (equivalent to 72.72 million US dollars), while the other nine ETF custody addresses are expected to flow in about 2,470 BTC (equivalent to 106 million US dollars), with iShares Bitcoin Treasury (IBIT) flowing in the most, about 1,050 BTC (45.24 million US dollars). Overall, the net inflow of the ten ETFs is about 782 BTC (33.74 million US dollars), marking the eighth consecutive day of net inflows. Nevertheless, both the outflow of Grayscale and the inflow of other ETFs show a trend of slowing down, and the trading is gradually stabilizing. Currently, the total holding of the ten BTC spot ETF custody addresses is about 655,576 BTC (2.832 billion US dollars).

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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