According to PANews, James Butterfill, head of research at CoinShares, said that although 900 bitcoins are produced every day, the newly issued US spot Bitcoin ETF has a daily demand of 2,800 bitcoins, more than three times the output, which has led to a 28% decrease in exchange holdings since 2020, indicating that the market is experiencing a major demand shock.
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CoinShares: Spot ETF daily BTC demand reaches 2,800, more than three times the daily output of BTC
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BTC
98,876
+1.21%
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