ETFs weren't hip back then either. Buying gold directly was already easier back then than buying Bitcoin is today. And it still doesn't affect the Bitcoin price
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@DonkeyInvestor the ETF inflow does not affect the Bitcoin price?
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@DonkeyInvestor If I remember correctly, the first gold spot ETF should have been launched in 2004. So we are talking here about 2004 - 2014.
I don't think ETFs were "hip" in that period, at least not in recent years :)
This does influence the price - but only indirectly or with a very long delay.
Of course it's OTC, but there are still insane amounts of Bitcoin that are bought up and are no longer available to others.
I don't think ETFs were "hip" in that period, at least not in recent years :)
This does influence the price - but only indirectly or with a very long delay.
Of course it's OTC, but there are still insane amounts of Bitcoin that are bought up and are no longer available to others.
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@Ph1l1pp Just look at the price. For the amount that has flowed into it, the BTC price should have flown from one ATH to the next.
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@stefan_21 the pleading inflation adjustment is also a good argument. It remains as it is, chart-wise the ETFs are disappointing for me. But at least 1 BTC is still 1 BTC
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@DonkeyInvestor The ETFs are a huge success for me. The first pension funds have already bought Bitcoin via the ETFs - that alone is a great success after such a short time.
The chart is disappointing in this respect - I fully agree. If all this had been bought on the spot market, we would have flown to the moon.
On the one hand, Bitcoin was bought OTC - on the other hand, most of the outflows were sold on the spot market. Bitcoin worth just over 20 billion dollars has also flowed out of the Grayscale Bitcoin Trust. Of course, if this is then sold spot, that also explains why we are not yet on the moon😂
At some point, however, the OTC stocks should also schrumpfen🤷♂️
Regardless of this, the ETFs will still have an effect on the price - at least in the medium term :)
The chart is disappointing in this respect - I fully agree. If all this had been bought on the spot market, we would have flown to the moon.
On the one hand, Bitcoin was bought OTC - on the other hand, most of the outflows were sold on the spot market. Bitcoin worth just over 20 billion dollars has also flowed out of the Grayscale Bitcoin Trust. Of course, if this is then sold spot, that also explains why we are not yet on the moon😂
At some point, however, the OTC stocks should also schrumpfen🤷♂️
Regardless of this, the ETFs will still have an effect on the price - at least in the medium term :)
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