The demand for US spot Bitcoin ETFs surged significantly on Tuesday, outpacing the new supply created daily by miners by a remarkable 614%, according to Gayatri Choudry, Quantitative Research Analyst at Bitwise Asset Management.

Demand from US BTC ETFs exceeds new BTC supply by 7x pic.twitter.com/OCU5D19rpf

— Gayatri (@GayatriPC_) March 27, 2024

The surge in demand for Bitcoin ETFs reflects growing interest among institutional and retail investors in gaining exposure to the digital asset, without having to manage the BTC themselves. ETFs offer a convenient and regulated way for investors to participate in the potential upside of Bitcoin’s price movements while mitigating some of the…

Read more on BitcoinMagazine