In a significant development for the cryptocurrency market, Glassnode reported the announcement of BlackRock’s request for a Bitcoin Exchange-Traded Fund (ETF) on June 15th has triggered a notable surge in the share of Bitcoin supply held and traded by US entities. This surge is indicative of a potential inflection point in Bitcoin supply dominance, provided the current trend is sustained.
BlackRock, a prominent investment management firm, made waves when it expressed interest in launching a Bitcoin ETF. The news sent shockwaves throughout the crypto community, with many anticipating the potential impact on the market. Following the announcement, Bitcoin’s supply dynamics have witnessed an intriguing shift, with US entities emerging as prominent holders and traders of the cryptocurrency.
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