• 23/07/2024 23:25

The demand for Bitcoin ETFs significantly exceeds the rate of mining of the first cryptocurrency

The daily demand for spot Bitcoin ETF is about 2800 BTC, while the daily production of the first cryptocurrency is 900 BTC. This situation leads to “shock” demand for this instrument, writes The Block.

The demand for Bitcoin ETFs significantly exceeds the rate of mining of the first cryptocurrency

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< p>The publication notes that the high demand for Bitcoin ETFs contributes to a further decrease in the Bitcoin balances of centralized exchanges. According to the calculations of experts, the drop in the indicator according to the values ​​of 2020 reached 28%.

“Spot ETFs, after their approval, began to have a significant impact on price trends,” experts explained.

Recall that BTC growth in February was 43%. Bitcoin is approaching its historical maximum of $68,789 thousand, which it reached on November 10, 2021.

To the topic: Bitcoin has overtaken the Russian ruble in terms of capitalization

minfin.com.ua

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