CoinShares: The daily demand for spot ETFs on BTC is more than three times the production volume, BTC is experiencing a demand shock
2024/02/28 23:23
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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.
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