In the past 24 hours, spot ETFs have been so good that it is beyond imagination. This is mainly due to two factors. One is the positive CPI data, which everyone knows, so I will not repeat it here. The second is that with the expiration of 13F on the 15th, we can see that a large number of institutions hold #BTC spot ETFs. I had a discussion in the afternoon, and I roughly calculated that about 60% of the positions are controlled by institutions, especially many of them are top institutions and banks ranked high in the country.
This data is good news for many investors, especially American investors. Previously, Eric and others including Bloomberg had speculated that ETF investors may account for more retail investors, and retail investors' positions are not stable, so this is also the reason why some investors began to waver at the beginning of the month. Now with the disclosure of more data, the entry of more institutions will bring more positive emotions.
Although Grayscale's GBTC sold 839 BTC today, which is a lot, Fidelity, Wood's ARK and Bitwise increased their holdings by a total of 5,462 BTC, which opened up the situation at once. It can also be seen that investors still think that the current price (about 65,000 US dollars) is a good time to enter the market. However, except for these three companies, the performance is relatively average, especially BlackRock, which still gave zero even when CPI performed well.
The situation in Hong Kong continues to be poor. Huaxia and Bosera have both seen more than 80 BTC leaving the market. Bosera estimates that its holdings will be less than 1,000 BTC by tomorrow. Compared with the holdings of 4,100 BTC at the beginning of the market, it has net reduced its holdings by 600 BTC today. The gap between Hong Kong and the United States is still quite large.
