The price of Bitcoin and crypto in general has been soggy over recent weeks, and so have bitcoin ETF flows, which have turned slightly negative for six out of the last eight trading days. The chart below shows inflows and outflows in USD millions for all of the Bitcoin ETFs. Grayscale’s GBTC has seen daily outflows because they are charging 1.5% in fees on their legacy AUM while the others are charging a small fraction of that. As a result, holders of GBTC are selling outright, or selling to rotate into the cheaper ETFs over time.
These short term correction are not out of characters with or without etf. Think we chop towards 20w(53k) MA then move higher post halving. Can't be too bearish pre halving with liquidity cycle continue to drift higher into 2025. Appreciate your input Geo. Have you thought about opening the comment section to your Telegram?
These short term correction are not out of characters with or without etf. Think we chop towards 20w(53k) MA then move higher post halving. Can't be too bearish pre halving with liquidity cycle continue to drift higher into 2025. Appreciate your input Geo. Have you thought about opening the comment section to your Telegram?
Hi Geo -- how can I access your TG chat?