On-chain data shows the Bitcoin spot exchange-traded funds (ETFs) have seen three waves of major inflows from the veteran hands in this cycle so far.
Bitcoin Coin Days Destroyed Shot Up Alongside Earlier ETF Net Inflows
As explained by CryptoQuant author Maartunn in a new post on X, Bitcoin has been observing major reshuffles related to old tokens and the spot ETFs. The spot ETFs refer to investment vehicles that trade on traditional platforms and allow investors to gain exposure to an underlying asset like BTC without having to directly own the asset.
The BTC spot ETFs launched in the US in January 2024. Since then, the funds have generally enjoyed growth, with a few periods involving a particularly sharp burst of inflows. The main attraction of the ETFs is that investors unfamiliar with the cryptocurrency world can invest into BTC in a form that’s convenient to them.
When a trader invests into such a vehicle, the fund buys an equivalent amount of the cryptocurrency on
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