2024 kicked off to an exhilarating start, with Bitcoin spot ETF approvals on the horizon and the Cryptocurrency market in a clear uptrend as a result. The debut of these new BTC-backed products, however, resulted in a strong, 20% correction in Bitcoin.
Price retreated, but the companies behind each ETF continued to buy the dip in BTC, substantially increasing their holdings. Now, one month later after the spot Bitcoin ETFs began trading, we’re looking at how much BTC each ETF has accumulated thus far, and how this new demand in the face of limited supply might impact Bitcoin price action in the future.
Bitcoin spot ETFs: sell the news
On January 10, 2024, the US Securities and Exchange Commission approved a slew of spot Bitcoin ETFs for the first time in the United States. The expectation was that inflows would dramatically increase the price of Bitcoin almost instantaneously. But the opposite happened in the near term. BTCUSD suffered a 20% drawdown in January following the ETFs goi
We współpracy z: https://cryptodaily.co.uk/2024/02/bitcoin-spot-etfs-by-the-numbers-one-month-later
