KI YOUNG JU, CEO of encryption quart, believes that Bitcoin’s Bull cycle will continue as long as the demand for Bitcoin ETF is maintained positively.
In the X POST on February 20, JU mentioned that the inflow of Bitcoin (BTC) ETF slows down, but it continues to surpass the leak. He warned that long -term minus demand would announce the beginning of the bear market.
According to SOSOVALUE data, Bitcoin ETFS recorded net repayment for two consecutive days with a leak of $ 770 million on February 19. FIDELITY’s FBTC was the largest withdrawal at $ 488.39 million, followed by Valkyrie ‘S Brrr, Ark 21Shares’Arkb and Vaneck’ S HODL. Meanwhile, BLACKROCK’s IBIT and seven other ETFs did not see much movement. Despite short -term leaks, the total trading volume was strong at $ 2 billion.
Despite short -term leaks, institutional interest in Bitcoin ETF is increasing. On February 14, ABU DHABI’s sovereign asset fund, known as Mubadala Investment Company, invested $ 433.9 million in Blackrock IBIT stocks. The company is one of the first major sovereignty funds to allocate some of the portfolio to encryption.
In addition, Barclays, which was submitted to the Securities and Exchange Commission on February 13, said on December 31 that it owns 2.4 million shares of IBIT, worth $ 133 million. British -based banks are one of other organizations, such as JP Morgan. And Goldman Sachs exposed to Bitcoin ETF.
BITCOIN is currently finishing $ 97,000 and has fallen significantly from last month’s top score of $ 109,200. One of the main causes of this reduction can be the market trust in the Trump administration’s ability to quickly establish strategic Bitcoin protection zones. Many investors expected the market to move quickly after the election, but the volatility surged due to uncertainty.