Analyst: It is expected that approximately 9,363 BTC will be transferred to various ETF custody addresses after the US stock market opens tonight

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Cointime2024/02/02 12:02

By:Cointime

According to on-chain analyst Yu Jin's analysis, it is expected that after the opening of the US stock market tonight, there will be a transfer of about 9,363 BTC (worth 402.49 million) to various ETF custodial addresses based on the inflow/outflow of BTC spot ETF funds.The GrayScale GBTC custodial address will flow out about 4,235 BTC (about $182 million).The custodial addresses of the other nine ETFs will flow in about 5,128 BTC (about $220 million), with BlackRock IBIT receiving the most inflows, reaching 3,812 BTC (about $164 million).Ten ETFs have a net inflow of about 893 BTC (about $38.45 million), marking the fifth consecutive day of net fund inflows.Currently, these ten BTC spot ETF custodial addresses hold a total of about 653,396 BTC (about $28.08 billion).

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