According to PANews, on-chain data analyst Yu Jing predicts a net outflow of approximately 579 BTC from ETF custodial addresses after the opening of the US stock market tonight. The outflow is expected to be primarily from Grayscale (GBTC), which is projected to see an outflow of about 926 BTC. On the other hand, four ETFs, including Ark Invest (ARKB), are expected to see an inflow of approximately 347 BTC.
Currently, eleven BTC spot ETFs collectively hold 818,991 BTC, equivalent to about 48.59 billion USD. The prediction of a net outflow from ETF custodial addresses indicates a potential shift in the market dynamics. However, the overall holdings of these ETFs remain substantial, reflecting the continued interest and investment in BTC.
The prediction by Yu Jing provides an insight into the potential market movements and the dynamics of the BTC market. It is important to note that these predictions are based on current market conditions and can be subject to changes. Investors are advised to keep a close watch on the market trends and make informed decisions.