The ETFs brought in 9,000 Bitcoin yesterday, which is stunning. People thought the ETFs were running out of steam. No, they are not.
According to Bloomberg, IBIT (BlackRock) and FBTC (Fidelity) are very popular. We are only just beginning, and so is the marketing campaign.
Remember, all the big money in China gets funneled through Hong Kong. So this is going to be big! Is there enough Bitcoin to go around? Hell no, there is not!
Focus on the bottom right-hand corner of the chart, which indicates $405M net demand. Yesterday's demand from the Bitcoin ETFs was ~9,000 BTC, which is 10x greater than new supply issuance (900 BTC mined per day).
What happens when demand is 20x greater than supply after the Halving? Well we saw a taste of it over the last couple of days.
BlackRock (red) had a big spike on day 20
Fidelity (blue) was flat
ARKB (green) experienced a big day as well
Selling continued on GBTC, but these new ETFs far exceeded it
Markowitz's Principle: Diversification,
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