CryptoNews: Institutional investors and long-term Bitcoin holders are displaying increased bullishness, with the balance of Bitcoin held on over-the-counter (OTC) desks hitting an all-time high.
Institutions and Other Major Capital Allocators Are Becoming More Interested in Bitcoinholders are displaying increased bullishness, with the balance of Bitcoin held on over-the-counter desks hitting an all-time high.by ARK Invest, nearly 8,000 Bitcoins are held on these desks, indicating a 60% increase this quarter.
According to Cathie Wood's ARK Invest, which utilizes OTC desks to represent institutional activity, the stated figures indicate that institutions and other major capital allocators are becoming more interested in Bitcoin. The report also points out that an all-time high of nearly 70% of the 19 million circulating supply of BTC has not changed in more than a year.
In addition, the report displays 13 metrics for the Bitcoin network, 12 of which are bullish and only 2 of which are neutral. Grayscale's Bitcoin Trust has increased in value by twofold this year; its GBTC shares were trading at $8.65 at the beginning of the year and are now worth $20. for a spot Bitcoin ETF application alongside 21Shares, and is believed to be the front-runner for a Bitcoin ETF, ahead of BlackRock and other asset managers.Related Articles
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Democratic Presidential Candidate Robert Kennedy Jr Holds Up to $250,000 in Bitcoin, Records Show – Bitcoin NewsAccording to a recently published report, Robert Kennedy Jr., a Democratic presidential candidate, holds between $100K and $250K in bitcoin.
Read more »
Bitcoin Mining Difficulty Set to Surge: Record-Breaking Increase Looms, Erasing Recent Reduction – Mining Bitcoin NewsStatistics recorded on July 9, 2023, indicate that the next Bitcoin mining difficulty adjustment is scheduled for July 12, 2023.
Read more »
Iowa Resident Scammed of $6,600 in Bitcoin ATM Scheme, Police Launch Investigation – Bitcoin NewsThe Clive Police Department insists that the scammers utilized cryptocurrencies due to the challenges in tracking these assets.
Read more »
88% of Binance Institutional Investors Surveyed Express Long-Term Optimism About Crypto | Binance BlogEarlier this week we released the results of our Institutional Crypto Outlook Survey. The report covers a number of topics, including views about the future of crypto and the platforms of choice for institutions. Find a summary of the results here 👇
Read more »
Why the 'Raiders of the Lost Ark' Truck Chase Is Still the Franchise's Best Action Scene'Raiders of the Lost Ark': Why the Truck Chase Is Still the Franchise's Best Action Scene
Read more »
Central Bank of Russia: Digital Ruble Could Be Launched as Soon as 2025 – Bitcoin NewsThe Central Bank of Russia expects the digital ruble, a Russian central bank digital currency (CBDC), to be launched as soon as 2025, according to the reports of Olga Skorobogatova.
Read more »