Bitcoin ETF

Bitcoin

<h2 id="quick-take">Quick Take</h2> 
The potential approval of a spot ETF for Bitcoin has spurred a significant increase in bullish inflows in the crypto market. 
As reported by CryptoSlate, there has been a staggering <a href="https://cryptoslate.com/inflows-into-digital-assets-rise-340-week-on-week-in-anticipation-of-us-spot-bitcoin-etf-report/">340% week-over-week</a> surge in inflows into digital assets. 
This surge is not confined solely to the typical exchange platforms. Over-the-counter (OTC) desk wallets, which allow market participants to trade Bitcoin without using an exchange, have also experienced substantial inflows since the start of October, as tracked by Glassnode. 
<figure id="attachment_367169" aria-describedby="caption-attachment-367169" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-367169 size-full" style="color: #383838;" src="https://cryptoslate.com/wp-content/uploads/2023/10/OTC.png" alt="OTC desk wallet inflows: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/OTC.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/OTC-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/OTC-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/OTC-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/OTC-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-367169" class="wp-caption-text">
 OTC desk wallet inflows: (Source: Glassnode)
 </figcaption>
</figure> 
In addition, the Purpose Bitcoin ETF, with its holdings of approximately 25,000 Bitcoin, has observed consistent inflow throughout the past month. Even though these inflows might not be termed as ‘large,’ they denote a positive market sentiment. This uptick in inflows across various platforms indicates an optimistic market response to the potential approval of a Bitcoin ETF, bolstering the overall landscape of digital assets. 
<figure id="attachment_367170" aria-describedby="caption-attachment-367170" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-367170 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/ETF.png" alt="Purpose Bitcoin ETF flows: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/ETF.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/ETF-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/ETF-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/ETF-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/ETF-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-367170" class="wp-caption-text">
 Purpose Bitcoin ETF flows: (Source: Glassnode)
 </figcaption>
</figure> 
The post <a rel="nofollow" href="https://cryptoslate.com/insights/potential-approval-of-bitcoin-etf-drives-otc-sales-as-digital-asset-inflows-surge-across-board/">Potential approval of Bitcoin ETF drives OTC sales as digital asset inflows surge across board</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Potential approval of Bitcoin ETF drives OTC sales as digital asset inflows surge across board

Table of Contents

CryptoSlate

Other articles published on Oct 23, 2023

Bitcoin Spot ETF Comments from an SEC Member Who is a Vocal Bitcoin Advocate

Solana Price Prediction as SOL Blasts Above $30 – Can SOL Reach $100 in 2023 and $1,000 in 2024?

Bolt opens new driver engagement hub in Lagos to resolve driver issues, obtain training

Google’s Vertex AI: Democratizing AI for Non-Expert App Creators

Marinade and Orca Finance ban UK user access amid FCA regulatory concerns

Tether Plans to Publish Real-Time Reserve Reports, New CEO Says

Join our free newsletter for daily crypto updates!