CoinShares: Daily BTC demand for spot ETFs is more than three times the production, leading to a decrease in exchange holdings
CoinShares research director James Butterfill said that although 900 bitcoins are produced every day, the newly issued US spot bitcoin ETF has a daily demand of 2,800 bitcoins, which is more than three times the production volume. This has led to a 28% decrease in exchange-held amounts since 2020, indicating that the market is experiencing significant demand shocks.
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.
You may also like
A certain "contract-quitting, spot-buying" whale address has accumulated 7,066 ETH in the past 5 days
The Secretary of the National Security and Defense Council of Ukraine and his team have departed for the United States.
Trending news
MoreCrypto prices
More
