CoinShares: The daily demand for spot ETFs on BTC is more than three times the production volume, BTC is experiencing a demand shock
James Butterfill, Research Director at CoinShares, stated that although 900 bitcoins are produced every day, the newly issued U.S. spot Bitcoin ETF requires 2,800 bitcoins daily, which is more than three times the output. This has led to a 28% reduction in exchange holdings since 2020, indicating that the market is experiencing a significant demand shock.
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
Data: If BTC falls below $87,032, the cumulative long liquidation intensity on major CEXs will reach $1.376 billion.
The altcoin season index remains at a low level, currently at 19.
The probability of Stable token's FDV exceeding $2 billion on its first day of launch rises to 85%
Trending news
MoreCrypto prices
More
