K33 Research Analyst: Bitcoin ETPs hold 4.4% of Bitcoin’s circulating supply and 45% of exchange reserves
K33 Research senior analyst Vetle Lunde stated on X platform: "Global Bitcoin ETP currently holds 864,719 BTC, which is equivalent to 4.4% of the circulating supply of BTC, accounting for about 45% of cryptocurrency exchange reserves. ETF is an important component of the Bitcoin market structure, affecting the spot market and CME, and its relevance will further increase."
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