Institutional fund flows: According to SoSoValue, cited by CoinDesk today, U.S. spot Bitcoin ETFs attracted over $1 billion in inflows during the first three days of this week.
However, the report puts average daily net inflows since July 1 at around $86 million, below the roughly $235 million average during the previous three strong-rally periods. These observation windows should not be conflated.
My take: The short-term return of inflows points to improving demand; whether they continue will determine the strength of the signal. ETF holders are not all institutions.
Source: CoinDesk, collected October 22 at 15:01 Beijing time. #BTC #ETF
However, the report puts average daily net inflows since July 1 at around $86 million, below the roughly $235 million average during the previous three strong-rally periods. These observation windows should not be conflated.
My take: The short-term return of inflows points to improving demand; whether they continue will determine the strength of the signal. ETF holders are not all institutions.
Source: CoinDesk, collected October 22 at 15:01 Beijing time. #BTC #ETF