This year, spot funds for the flagship crypto asset were approved in the United States. This instrument immediately attracted the attention of large investors and within a few months the influx of funds exceeded $13 billion. It is noteworthy that in this context, BTC funds have more than outperformed gold ETFs.
At its peak, this investment instrument attracted about $1 billion from investors daily. However, many experts note that the demand for spot Bitcoin ETFs has begun to systematically slow down. The recent halving on the Bitcoin network may also have an impact. In anticipation of this event, industry funds recorded several consecutive days of net capital outflows.
The representative of the trading platform Kuner believes that this is a purely temporary phenomenon. After halving, demand for sectoral Bitcoin ETFs will quickly recover. In his opinion, the local decline in interest in this instrument is due to the fact that investors are simply balancing risks. The specialist also noted that the main digital coin has demonstrated a steady bull run since the beginning of this year, not only due to the emergence of spot ETFs.
The actions of speculators also had a huge impact. On the eve of the halving, they decided to partially take profits. The geopolitical aggravation in the Middle East cannot be written off either. In such conditions, investors often reallocate capital in favor of conservative instruments. The main beneficiaries here were gold, the US dollar and government bonds.
Now, a growing number of industry experts are suggesting that many centralized exchanges could face a supply shock in the coming year. For example, representatives of the Bybit exchange came to this conclusion in a recent report. In their opinion, the Bitcoin reserves of a number of large CEX platforms may be exhausted in the next 9 months.