Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.) largely consolidated above $70,000 while altcoins traded mixed.
“The Nine” have recorded multiple days of net outflows lately, but overall, the total assets under management have continued to tick higher.provided by Dune Analytics shows that the ETFs have seen a net flow of $12.5 billion since launch, and they currently hold 839k Bitcoins worth approximately $58.9 billion.
“I was surprised , but I don’t think it’s traditional investors yet. I still think 90% of the flows are retail,” van Eck said while speaking to Cointelegraph at Paris Blockchain Week. “You’ve had some Bitcoin whales and some other institutions move some assets in, but they were already exposed to Bitcoin.”
“Convenience, safety, and affordability,” he said. “You had 2% spreads on many centralized exchange platforms like Coinbase. We have single-digit spreads for the ETFs and no fees or low fees. It’s easier just to do a buy ticket than anything else.” “What I’d like to point out is that it’s not the most earth-shattering thing,” he said. “The Bitcoin market is more global and much deeper than just being influenced by the ETFs.” He noted that the sharp rise in BTC price in early April did not occur during U.S. trading hours, which points to the growing influence of Asian markets.
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Source: CryptoAmb - 🏆 22. / 68 Read more »