Bitcoin ETF Inflows Drying Up as GBTC Records Largest Daily Outflow
The decline in Bitcoin ETF inflows and the record outflow from GBTC suggest a reevaluation of Bitcoin investment strategies among institutional and retail investors.
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The decline in Bitcoin ETF inflows and the record outflow from GBTC suggest a reevaluation of Bitcoin investment strategies among institutional and retail investors.
Big market players continue to remain bullish on Bitcoin, while the world’s largest crypto faces strong selling pressure a day before the FOMC meeting.
Butterfill stated that since the launch of spot Bitcoin ETFs in the US, the average daily demand for Bitcoin has increased to 4500 on trading days, while only approximately 921 new Bitcoin are produced each day.
The company revealed in a blog post that, as of February 29, 2024, GAM was managing a staggering $10.1 billion in assets, marking a substantial 24.8% increase compared to the previous month.
The initiative potentially holds the power to unlock a myriad of possibilities by merging the capabilities of blockchain technology with that of AI.