JP Morgan note that Wednesday was biggest day for bitcoin ETF net inflows, analysts at the firm estimated that the funds saw $675 million of net sales on Wednesday.
- This was the largest single day of net sales for the group, contributing to the ~$7.5bn accrued since launch.
- Gross sales (ex-GBTC) of $892mn came in just below below the all-time record (~$918mn), as Grayscale’s GBTC outflows were relatively robust at $216mn on Wednesday,
- JPM said inflows mirror the recent spike in trading volume of the funds, and the move higher in price for crypto is attracting interest to the funds
This article was written by Eamonn Sheridan at www.forexlive.com. Source