CoinShares: Daily BTC demand for spot ETFs is more than three times the production, leading to a decrease in exchange holdings

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2024/02/29 05:38

CoinShares research director James Butterfill said that although 900 bitcoins are produced every day, the newly issued US spot bitcoin ETF has a daily demand of 2,800 bitcoins, which is more than three times the production volume. This has led to a 28% decrease in exchange-held amounts since 2020, indicating that the market is experiencing significant demand shocks.

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