Markets· ★★★· bullish·

Galaxy Research: Bitcoin holders shift from self-custody to BlackRock ETFs

  • —The shift into ETFs is concentrated in BlackRock products
  • —Drivers include abandoning self-custody after wallet hacks
  • —Moving BTC into ETFs avoids triggering a taxable event
Why it matters: A shift of coins into ETFs reduces spot supply and strengthens BlackRock's influence over the bitcoin market.
#BTC
Source: TokenPost
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