Just a short little update after 6 days of ETF trading.
I found some details on in and outflows over the first six days and I decided to do the math.
Simple Math, just to see how worried I should be about the huge outflows from Grayscale the media is emphasizing.
For the curious!
In the ETF Battle All Against Grayscale, it seems that for now, the inflows are beating the outflows.
This of course is temporary. The Grayscale outflows will diminish over time.
While over the next year, we should see a steady inflow into all other ETFs.
Still, the fact that more money is coming in even when the Grays are bleeding is a positive.
On the negative, so far only 10% flowed out of Grayscale.
2800 from there almost 25.000 BTC. These guys were seriously holding over 1.5% of the total BTC supply do I read that correctly? Well in that case this ETF thing will help decentralize BTC just a bit more, right?
Worst Case Scenario
It will take another 6-8 weeks in the worst-case scenario for the Grays to bleed dry.
The Buy-the-Boomer teams from Blackrock, Fidelity, Ark, and Co. have just gotten started. That makes it a bit hard to say if they can keep these volumes coming in over the next 6 weeks, especially as the data only is based on 6 days.
What I do see is fluctuating numbers and no downtrend till now, hence they did not trip up yet and a pipeline like this normally will not run dry that quickly. But this is crypto, still their capital managers are working around the clock to convince all boomers to buy the rumor. And these guys are trained professionals hence I expect them to do well for a while longer.ย
The ETF hype might be dying in the crypto space, it just started in Boomerland.
Bikini Bottom Line
This pain is temporary and the biggest joy comes when the hurting stops just as in real life.
Six weeks from now takes us into March, with the possibility of rate cuts and the halving Hype we should see a new leg up by then (NAF).
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Thank goodness you made it till the end Pees, Love and I am out of here!
If you are looking for a new place to earn crypto by blogging, reading, and commenting tryย Bulb:
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[Source Pic](All pic by meme or by me I & AI)
ETF Data coming from: https://twitter.com/BitMEXResearch/
Post Scriptum:
Platforms where I Earn Crypto for my Content (Affiliate Links):
Torumย -ย https://www.torum.com/?referral_code=bitcoinbaby
Bulb: https://www.bulbapp.io?referral_code=hidjl8
Hiveย -ย https://hiveonboard.com/?ref=whywhy
Publish0xย -ย https://www.publish0x.com?a=l9avg4xnbG
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Exchanges where I trade Crypto (Affiliate Links):
BitVavo Exchange- Best European Exchange. easy on and off ramp with slightly higher trading fees (0.25 %) & Great Customer Service - https://bitvavo.com/?a=C21A94C2FD
Kucoin Exchange - Hong Kong. Okay, trading fees (0.1 %) & Contains a lot of low-cap gems. Customer Service takes time - https://www.kucoin.com/ucenter/signup?rcode=rJ821BX&lang=en_US&utm_source=friendInvite
Bitmartย - Global (USA allowed) Low, trading fees if you use BMX (0.025 %) & Contains a wide variety of coins -ย https://www.bitmart.com/en?r=7XFCVy
BitGetย - Just started on Bitget lots of promotions going on there and sometimes really early listings -ย ย https://www.bitget.com/referral/register?commonCode=71YYWY6D
Places where I do Liquidity Mining and Staking
Cake DeFi: Here you have to invest $50 dollars and you get 30 dollars for free. You can withdraw your 50 dollars at any time or use them for Liquidity Mining, Staking, or lending to earn more DFI rewards. The 30 dollars is locked for 6 months but earns you interest for the 6 months. https://app.cakedefi.com/?ref=197670
