ETFS in the United States bitcoin 6X bought more than last week Bitco 6X mines than BTC miners
Bitcoin exchange funds in the United States bought nearly six times the number of bitcoin produced by miners during the past week.
US -based Bitcoin (BTCThe boxes bought 18,644 Bitcoin during the past week when only 3,150 BTC was extracted for this period, I mentioned Hodl15CAPITAL assets on May 4.
This accumulation by institutions and ETF source is approximately six times the amount of the origin that is produced because miners generate only 450 coins per day.
The total flow over the past five days reached about $ 1.8 billion, with a net external flow on April 30, According to For investors Farside. There has been not only one day of the external flow since April 16, as the flows reflect the market recovery.
Last week’s accumulation followed an increase in the BTC decomposing prices in early May when it gained the original 4 % to reach the highest level in six weeks at 97700 dollars on May 2. However, the original has since declined to the level of $ 94,000, the same price that was circulated at this time seven days ago.
Blackrock’s Ishares Bitcoin Trust (Ibit) is IndustryAfter I saw nearly $ 2.5 billion of flows during the past five days trading and following 17 days without an external flow.
Related to: Blackrock Bitcoin ETF buys $ 970 million in BTC with an increase in flows, Boost Market
“The Bitcoin Investment Funds rose in the category of approximately $ 110 billion, despite facing significant distribution obstacles,” He said EtF Nate Giraci store head of a blog on May 3.
He added that many of the wealth management platforms still restrict or prevent financial advisors and brokers from recommending or providing access to Etps Bitcoin.
“This is why I said Spot Bitcoin Etfs works with one hand tied behind their backs. Imagine what might happen with these restrictions.”
Litecoin ETF decision is due
Meanwhile, the ETF Canary Capital Spot Litecoin (LTC) file is scheduled for the second deadline of the US Securities and Stock Exchange Committee by May 5. Source foot To get the Litecoin ETF spot along with a spot Xrp etf In October.
“If any origin has an opportunity for early approval, it will be Imo Litecoin,” He said He added that the Bloomberg analyst ETF James Sevart on May 5. Fellow analyst Eric Balunas Echo Earlier this year.
More than 70 investment funds circulating in the United States are waiting for SEC’s decision this year, Bloomberg I mentioned In April.
publish_date
