ETF Inflows far Outweigh GBTC Redemptions

With the recent ETF approvals, funds that were held in GBTC can finally be redeemed. Billions of dollars worth of shares have been converted and withdrawn, which has led to a number of frightening headlines about the market impact of this.

It’s a good thing the bulls are in charge at this stage of the market, because as seen in Bloomberg ETF analyst Eric Balchunas’s tweet, the inflows from the other nine ETF’s continue to dominate. Basically what this means is normies like their Bitcoin… a lot.