However that knowledge is a bit of murky.
In actuality, it’s largely only one ETF that’s pulling these each day numbers down: Grayscale.
Why? As a result of they refuse to decrease their 1.5% administration payment to compete with different choices, that are largely 0% for the primary 12 months or so, then within the realm of 0.25% p/y.
(So, like 6x cheaper than Grayscale?).
Excellent news: Grayscale can solely bleed so many purchasers, for thus lengthy, earlier than there’s no extra to lose.
(At which level the promoting will cease → we’ll most likely begin seeing extra each day net-purchasing → which ought to assist to push Bitcoin to new all-time-highs).
The takeaway:
Yeah, the ETFs seem to be bleeding proper now — however it’s actually simply Grayscale. The opposite funds are in nice form, pulling in lots of of tens of millions per day.
Good!