NYDIG: High Bitcoin ETF trading volume doesn’t always mean heavy buying

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Cointime2024/02/27 01:02

By:Cointime

Although the high trading volume of new spot Bitcoin ETFs is usually considered to indicate strong investor buying interest, this may not be the case. Greg Cipolaro, Global Head of Research at NYDIG, wrote in the report: "Daily trading volume is not a reliable indicator of daily fund flows, which is a common misconception in the industry." Analysts believe that the fund turnover rate, which is the dollar trading volume divided by the net asset value of the fund, is the preferred observation indicator. The overall turnover rate of spot Bitcoin ETFs is 5.3%, and the turnover rates of Valkyrie (BRRR) and Grayscale's GBTC are the lowest, at 2.2% and 2.4%, respectively.

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