Since the approval of Bitcoin ETF applications by the US Securities and Exchange Commission (SEC) on January 11, followed by the commencement of trading a day later, the ETF race has witnessed impressive trading volumes on each trading day.
As the market recovers from a sharp correction, recent developments indicate a notable slowdown in Grayscale selling, which could potentially signal a rebound for the Bitcoin price following the recent 20% drop.
Market expert James Mullarney and Bloomberg ETF expert Erich Balchunas provide key insights into Bitcoin ETF fund flows after 8 days, shedding light on the evolving dynamics and investor sentiments surrounding this development.
Hope For Bitcoin Bulls
One of the key observations made by James Mullarney is the deceleration in Grayscale’s selling activities. While Grayscale continues to sell, the pace of their selling has significantly reduced, indicating a potential shift in their strategy.
This is seen as a positive sign for the market,
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