Hello!
This is the chart of the net Bitcoin ETF flows from heyapollo.com:
It's easy, ETF inflows are not stopping. We've seen an acceleration in the inflows since October. A consistent 3 months of positive inflows for the Bitcoin ETFs. This has led us to more than 1,000,000 Bitcoin custodied by the ETF issuers. Blackrock (IBIT) is leading the leaderboard with 527,000 Bitcoin, the second and third on the list are really close with 210,000 for Grayscale (GBTC) and 204,000 for Fidelity (FBTC).
After the podium in the range between 40k and 50k we have Ark Invest, Bitwise and the Grayscale mini ETF.
They are sucking the supply like black hole, and it's just a matter of time we get higher. With this level of demand it doesn't make any sense that Bitcoin is still at the $106,000 level.
Today Senator Cynhia Lummis published the following tweet:
2025 will be the year for bitcoin & digital assets. With David Sacks as Crypto Czar, this will be the most pro-digital asset administration ever! 🇺🇸💵I look forward to working closely with @DavidSacks to pass comprehensive digital asset legislation & my strategic bitcoin reserve.
This is incredibly bullish, the most pro-bitcoiner senator is endorsing the new Cryptocurrency and AI czar who will act as a counselor and supervisor about all the policies that are crypto related. The actual setup is amazing for Bitcoin. Can't wait to see what the future hodls!
Have a great day.
Posted Using InLeo Alpha