Photo by Brian Wangenheim on Unsplash
Quick update on what's been going on in the world of Bitcoin ETFs lately. Things have been pretty busy, with daily net inflows averaging $141 million in the past couple of weeks. Blackrock’s IBIT fund has actually become the biggest one out there now, beating out Grayscale’s GBTC.
Point to note - miners have been putting up a daily sell pressure of $32 million since the halving, but ETFs have been buying over four times the new supply.
In addition to this, stablecoin supplies have shot up to almost $170 billion, which is $30 billion more than last year.
TLDR - Its a waiting game - place your bets and stops accordingly!
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