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Spot ETFs Absorb 2800 BTC Daily...Demand Shocks Market

According to The Block, James Butterfill, head of research at crypto investment fund Coin Shares, diagnosed a "demand shock for Bitcoin as demand for BTC spot ETFs has exploded." "Bitcoin is being mined at a rate of 900 per day, but the US BTC spot ETF is buying 2,800 units per day. This is causing the market to experience a demand shock, with BTC holdings on centralized exchanges down 28% compared to 2020," he said. "Historically, BTC prices have moved in tandem with interest rate cut expectations, but this has not been the case since the launch of BTC spot ETFs," he added.

ETH spot ETF hits $9.37 billion in trading volume on second day of trading, off to a strong start, but falls short of BTC

Ethereum spot ETFs have recorded $9.37 billion in trading volume on their second day of trading. Of these, Grayscale's ETHE topped the list with $4.86 billion, accounting for about 52% of the total volume. BlackRock's ETHA followed with $255 million and Fidelity's

blockchain crypto cryptocurrency Ethereum ETF launches favorable price Shelly Young (SpotedCrypto)

Ethereum ETF launches favorable price Shelly Young comments and Grayscale's Ethereum liquidity outflow

Hany Rashwan, CEO of crypto ETP issuer 21Shares, told Bloomberg that the launch of an Ethereum spot ETF has already been partially priced in. "Global macroeconomic and summer seasonal features have also impacted the price of ETH," he said. "While Bitcoin is a digital gold hedge, Ethereum

blockchain crypto cryptocurrency ethereum Spot ETF Debuts Successfully (Spoted Crypto)

ETH Spot ETF Debuts Successfully...Sustained Success Unclear

Bloomberg reported on April 24 that "Nine U.S. ETH spot ETFs surpassed $1 billion in trading volume on their first day of trading in what could be considered a blockbuster debut. However, it's unclear if the box office record can be sustained." "The rationale

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