Binance Research Report Highlights Spot Crypto ETFs Trend and Domination

Quick Summary:

As per a recent Binance Research report, Spot Bitcoin (“BTC”) Exchange-traded funds (“ETFs”) have amassed more than 938.7K BTC (~US$63.3B), which, when combined with other funds of a similar kind, represents 5.2% of the entire supply of Bitcoin.

Spot BTC ETF net inflows have surpassed ~US$18.9 billion in less than a year, compared to ~US$1.5 billion for Gold ETFs, outperforming early Gold ETFs.

Since the beginning of 2024, Bitcoin’s correlation with the S&P 500 has increased, suggesting a rising convergence with traditional finance (“TradFi”) and reflecting changing investor opinion toward Bitcoin as a hedge against macroeconomic uncertainty as well as a risk-on asset.

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Article Details

Author / Journalist: Shanawaz

Category: Crypto

Markets: United Arab EmiratesSloveniaThailand

Topics: Exchange Binance Exchange News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-25 @ 14:00:00 (3 days ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 560 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 23242939

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 3 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 11 hours ago

Coverage Areas: United Arab Emirates

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News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #125

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