U.S Spot Bitcoin ETF demand has been massive over the past two weeks, but the pace of inflows has dropped considerably.
The ETF complex saw a 9-day streak of net inflows totaling $3B. However, beyond the headline, the daily demand dropped from nearly $1B to a low of $31M on Monday. That alluded to a 96% decline in institutional appetite.
For his part, CryptoQuant analyst JA Maartun stated, “Bitcoin ETF demand is cooling fast” amid increasing potential sell-side pressure.
