Add as a preferred source on GoogleBitcoin (BTC) Weakens as Corporate Treasury Buying Slows and ETF Flows Turn Negative
A measure comparing institutional absorption with reactivated supply stood at about negative 127,300 BTC for the year through Oct. 18. U.S. spot Bitcoin ETFs remained barely positive for the year at about $355 million.
Bitcoin (BTC) weakened in October as corporate treasury additions slowed and U.S. spot Bitcoin exchange-traded funds (ETFs) posted slight net outflows, while coins dormant for more than five years returned to circulation.
Alex Thorn, Galaxy Research's head of research, linked October's weakness to slower corporate Bitcoin treasury additions and slight net outflows from U.S. spot funds. The measure combines net spot ETF inflows and corporate treasury additions, then subtracts Bitcoin that had been inactive for more than five years before returning to circulation.
It stood at about negative 127,300 BTC for the year through Oct. 18, meaning the reactivated supply exceeded the ETF and treasury additions counted in the measure.
U.S. spot Bitcoin ETFs had about $355 million in net inflows for the year, staying barely positive after the total returned to positive territory in September. October flows were slightly negative.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.