Ethereum Price Analysis: The cryptocurrency market entered March with a surge in volatility as the Bitcoin price rally halted at $64000. A minor shift to sideways action has also impacted major coins like Ethereum, XRP, SOL, and BNB each wavering below their respective resistance. However, the massive inflow of capital in spot BTC ETFs which was one of the key reasons for the recent uptrend is still intact.
As per recent highlights from Lookonchain on March 1st, Grayscale (GBTC) reduced its Bitcoin holdings by 3,606 BTC ($223M), while eight spot BTC ETFs, collectively added 10,999 BTC ($680M) to their portfolios. Blackrock alone accounted for 9,730 BTC ($601M) of this increase, showcasing a significant institutional shift toward Bitcoin investment.
Mar 1 Update:#Grayscale decreased 3,606 $BTC($223M).
8 ETFs added 10,999 $BTC($680M), of which #Blackrock added 9,730 $BTC($601M).https://t.co/38Tqp3p9D5 pic.twitter.com/8awhagxEJi
— Lookonchain (@lookonchain) March 1, 2024
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