On Sept. 26, CryptoQuant founder Ki Young Ju reported that America is regaining dominance in terms of BTC holdings. Its ratio compared to other countries is rising, “driven by spot ETF demand,” he added.
According to the US reserve ratio chart he provided, holdings have been increasing for the past year but have yet to return to levels seen during the 2024 BTC all-time high in March.
https://twitter.com/ki_young_ju/status/1839148508127047990?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”noopener nofollow
In a separate post on X, Ki Young Ju reported that spot Bitcoin ETF demand has rebounded, with the 30-day net change in total holdings turning positive.
https://twitter.com/ki_young_ju/status/1839143800574456308?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”noopener nofollow
Sept. 25 saw aggregate inflows totaling $106 million, according to preliminary data from Farside Investors. It is the fifth consecutive trading day that the investment products have seen inflows, bringing the total aggregate across all spot ETFs to nearly $18 billion since they were launched in January.
BlackRock’s IBIT dominated, with its highest monthly inflow at $184.4 million. However, outflows occurred from Fidelity’s FBTC and Ark’s ARKB funds, which lost $33.2 million and $47.4 million, respectively. There was a tiny $2.1 million inflow for Bitwise (BITB), but the rest, including both Grayscale funds, had zero flows.
ETF Store president Nate Geraci commented on the recent reports claiming that Bitcoin ETF flows were drying up.
“What’s weird is this report could be someone who just hates BTC and wants to see the ETFs fail, or someone who is Full Hyperbitcoinizationist and can’t stand to have a week without massive gains?”
https://twitter.com/NateGeraci/status/1838940826392567993?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”noopener nofollow
Veteran trader and chart guru Peter Brandt observed that bitcoin continues to be in a sequence of lower highs and lower lows.
He added that it would need to break above July’s highs of just over $70,000 to change this sequence.
https://twitter.com/PeterLBrandt/status/1839061041323642886?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”noopener nofollow
Bitcoin, which has been described as a liquidity barometer in recent research, was trading down 1.1% on the day at $63,520 at the time of writing. It was rejected at resistance at $64,500 twice this week and once in late August as it failed to overcome this price level. However, it has also bounced off support at $62,850 twice this week and has remained range-bound for several days.
The wider crypto market had declined 2.1% in terms of total capitalization, meaning altcoins were having a tougher time over the past 24 hours.
The post BlackRock Sees Highest Monthly ETF Inflow as US Bitcoin Holdings Climb appeared first on BitcoinLinux.
Go to Source
Author: NixCoin
The onboarding process associated with Web3 presents a continuing challenge in terms of being the…
Show AI SummaryVulnerabilities in Zcash’s codebase could crash nodes and risk network splits due to…
Show AI SummaryA $13 million cyber heist on Grinex exchange exposes vulnerabilities in the shadow…
Show AI SummaryScammers leverage advanced tech to make crypto fraud schemes appear credibleFraudsters use social…
Show AI SummaryJudge dismisses securities claims against Caitlyn Jenner’s $JENNER token, citing lack of common…
Show AI SummaryInvestors are adopting a flight-to-quality approach, driven by declining venture capital deal counts…
This website uses cookies.
Read More