💰 - ETFs are destroying bitcoins in circulation! - News from 06/11/2024

But also: ETH ETF issuers waiting for the SEC, ZkSync gets closer to the airdrop and UwU Lend victim of a Flash Loan attack

CRYPTOQUENT

JUN 11



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Hello 👋

Welcome to our debrief of Web3 news from the last 24 hours.

Every day, in 2 minutes, discover the major developments and facts that are shaping the future of Web3.

As US BTC ETFs become more and more popular, the liquidity of these assets is drying up. We will explain everything to you ! 🤯

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🔥 THE BURNING NEWS OF THE DAY

A shortage of BTC in anticipation?

The opening of spot Bitcoin ETFs causes a growing demand for BTC, exceeding one million units. This massive demand raises questions about a possible BTC shortage, exacerbated by the immediate capture of the last two months of mining production in a single week in June.

The arrival of traditional investors via spot ETFs is profoundly changing the dynamics of cryptos. This sector promises to pour tens of billions of dollars into the digital economy, with large-scale financial players.

Explosive demand for spot ETFs could lead to a Bitcoin shortage. Between June 3 and 7, Bitcoin ETFs in the United States absorbed 25,729 BTC, far more than the 3,150 new BTC mined over the same period. This trend could intensify the scarcity of Bitcoin, with significant consequences for the market!