Increase in Corporate Demand in Bitcoin Investments

Bitcoin continues to close above $34,000 and there are many events that increase investors' hopes. Increasing institutional demand indicates that Bitcoin prices may end the bear season. In particular, the CoinShares report and possible #approval, which will be published on Monday, seem to be a source of hope for investors.

Possible #ETF approval in the United States increases interest in Bitcoin investment vehicles preferred by institutional and accredited investors. Open positions are running to $30 billion, and all this data shows that corporate demand may end the bear season.

The increase in interest in ProShares Bitcoin Strategy ETF (BITO) and GBTC is supported by Bloomberg data. It is stated that #BITO traded $1.7 billion last week and continues to grow in terms of volume.

It is thought that Grayscale Bitcoin Trust has exceeded the $800 million volume threshold and there may be further increases. Amid intense demand, the number of people who aim to buy discounted #gbtc and sell it profitably with the increase in Bitcoin price after #etf approval is increasing. This ensures that the Bitcoin price remains strong even as volumes drop on crypto exchanges.
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