Three-quarters of new investment is estimated to come from ETFs as Bitcoin breached the $50,000 mark.
An estimated 75% of new Bitcoin (BTC) investments come from the 10 spot Bitcoin exchange-traded funds (ETFs) that were approved in the United States on Jan. 11.
In the past two weeks, over three-quarters of new Bitcoin investments originated from spot Bitcoin ETFs, excluding Grayscale’s Bitcoin Trust (GBTC) ETF, according to a Feb.14 report by on-chain data analytics firm CryptoQuant.
“We estimate over 75% of new investment into Bitcoin are coming from these ETFs. Moreover, investment from these ETFs has increased to 2% of the total historical investment in Bitcoin in just one month as measured by the realized market capitalization,” the report said.
