Most of bitcoin’s rally in 2024 roughly got here from mid-February to mid-March. It was throughout this time that the spot ETFs had been repeatedly including 5,000-13,000 bitcoin every day, even with sizable promoting by Grayscale’s GBTC. The motion since, nevertheless, has seen massive gross sales of bitcoin persevering with at GBTC, whereas purchases into the opposite ETFs have slowed. On many days, internet flows into the spot ETF group as an entire have turned damaging.

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